TRUE Private Wealth Advisors Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

TRUE Private Wealth Advisors lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,434 shares of the wireless technology company’s stock after selling 211 shares during the quarter. TRUE Private Wealth Advisors’ holdings in QUALCOMM were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. River Road Asset Management LLC boosted its stake in QUALCOMM by 207.4% in the second quarter. River Road Asset Management LLC now owns 570,188 shares of the wireless technology company’s stock worth $81,497,000 after buying an additional 384,700 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in QUALCOMM by 15.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 148,703 shares of the wireless technology company’s stock worth $21,254,000 after buying an additional 20,108 shares in the last quarter. Principal Financial Group Inc. boosted its stake in QUALCOMM by 0.9% in the second quarter. Principal Financial Group Inc. now owns 1,416,075 shares of the wireless technology company’s stock worth $202,400,000 after buying an additional 12,770 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in QUALCOMM by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 204,558 shares of the wireless technology company’s stock worth $29,237,000 after buying an additional 1,906 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in QUALCOMM by 40.4% in the second quarter. MCF Advisors LLC now owns 2,715 shares of the wireless technology company’s stock worth $388,000 after buying an additional 781 shares in the last quarter. 71.77% of the stock is owned by institutional investors and hedge funds.

QCOM stock traded down $3.04 on Wednesday, hitting $138.10. 40,793 shares of the company’s stock were exchanged, compared to its average volume of 8,847,491. QUALCOMM Incorporated has a 12-month low of $108.30 and a 12-month high of $167.94. The firm has a 50 day moving average price of $144.06 and a two-hundred day moving average price of $137.84. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.45 and a current ratio of 1.72. The stock has a market cap of $155.78 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 28th. The wireless technology company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.24. The business had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.58 billion. QUALCOMM had a return on equity of 102.31% and a net margin of 28.25%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, September 1st. This represents a $2.72 annualized dividend and a yield of 1.97%. QUALCOMM’s payout ratio is presently 81.44%.

QCOM has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on QUALCOMM from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Canaccord Genuity reissued a “buy” rating and issued a $225.00 target price (up previously from $200.00) on shares of QUALCOMM in a report on Thursday, August 12th. Susquehanna Bancshares reissued a “hold” rating and issued a $157.00 target price on shares of QUALCOMM in a report on Thursday, July 29th. Mizuho raised their price objective on QUALCOMM from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Finally, Cowen raised their price objective on QUALCOMM from $180.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Buy” and an average price target of $167.81.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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