Norden Group LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Norden Group LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,196 shares of the wireless technology company’s stock after selling 1,634 shares during the quarter. Norden Group LLC’s holdings in QUALCOMM were worth $2,429,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $32,000. Aspect Partners LLC lifted its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. 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 company insiders.

QUALCOMM Stock Down 3.4 %

Shares of NASDAQ:QCOM traded down $5.51 on Friday, reaching $158.19. The company had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The firm’s 50 day simple moving average is $179.95 and its 200-day simple moving average is $181.35. The firm has a market capitalization of $176.22 billion, a PE ratio of 21.26, a PEG ratio of 1.93 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.23 billion. As a group, analysts expect that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Tigress Financial raised their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Mizuho raised their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

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.