QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,881 shares of the wireless technology company’s stock after selling 946 shares during the quarter. Angeles Investment Advisors LLC’s holdings in QUALCOMM were worth $1,570,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the 2nd quarter worth about $32,000. Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Richardson Capital Management LLC acquired a new position in QUALCOMM in the 1st quarter valued at about $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in QUALCOMM during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Citigroup upped their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. TD Cowen increased their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $167.73 on Monday. The stock has a fifty day moving average price of $176.11 and a 200 day moving average price of $182.05. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a market cap of $186.85 billion, a PE ratio of 22.54, a P/E/G ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.03%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.