Prime Capital Investment Advisors LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Prime Capital Investment Advisors LLC lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,319 shares of the wireless technology company’s stock after selling 7,110 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in QUALCOMM were worth $9,226,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gilbert & Cook Inc. boosted its holdings in QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock worth $760,000 after buying an additional 356 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $334,000. Dynamic Technology Lab Private Ltd increased its position in shares of QUALCOMM by 90.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 9,639 shares of the wireless technology company’s stock worth $1,394,000 after purchasing an additional 4,570 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in QUALCOMM by 7.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,263 shares of the wireless technology company’s stock valued at $9,584,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in QUALCOMM by 27.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock valued at $190,000 after purchasing an additional 280 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

QUALCOMM Price Performance

Shares of QCOM opened at $167.73 on Monday. The company has a market cap of $186.85 billion, a P/E ratio of 22.54, a PEG ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm’s 50 day moving average price is $176.11 and its 200 day moving average price is $182.05.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on QCOM shares. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Mizuho lifted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Susquehanna lifted their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Company Profile

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.