QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Staley Capital Advisers Inc.

Key Points

• Staley Capital Advisers Inc. reduced its Qualcomm stock holdings by 0.3%, owning 729,889 shares, which represents 5.1% of its portfolio.
• Vanguard Group Inc. increased its stake in Qualcomm by 0.6%, now holding 114,368,470 shares, valued at approximately $17.57 billion.
• Qualcomm declared a quarterly dividend of $0.89 per share, with a dividend yield of 2.4%, to be paid on September 25th.

Staley Capital Advisers Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 729,889 shares of the wireless technology company's stock after selling 2,374 shares during the quarter. QUALCOMM accounts for about 5.1% of Staley Capital Advisers Inc.'s investment portfolio, making the stock its 3rd largest position. Staley Capital Advisers Inc. owned approximately 0.07% of QUALCOMM worth $112,118,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eagle Strategies LLC boosted its position in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. raised its stake in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in QUALCOMM by 2.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after purchasing an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. raised its stake in QUALCOMM by 5.1% during the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after purchasing an additional 69 shares in the last quarter. Finally, Thoroughbred Financial Services LLC increased its holdings in shares of QUALCOMM by 0.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research reports. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Mizuho reduced their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Stock Up 3.9%

QUALCOMM stock traded up $5.76 during midday trading on Tuesday, hitting $153.73. 9,303,080 shares of the company's stock were exchanged, compared to its average volume of 8,639,778. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The firm has a 50-day moving average of $155.20 and a two-hundred day moving average of $153.89. The company has a market cap of $165.87 billion, a PE ratio of 14.82, a P/E/G ratio of 2.16 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the business earned $2.33 EPS. The firm's quarterly revenue was up 10.4% on a year-over-year basis. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at $6,398,956.70. This trade represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock worth $8,352,355. Corporate insiders own 0.08% of the company's stock.

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.