Park Place Capital Corp Sells 1,323 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Park Place Capital Corp cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 51.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,255 shares of the wireless technology company’s stock after selling 1,323 shares during the quarter. Park Place Capital Corp’s holdings in QUALCOMM were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Grandview Asset Management LLC lifted its position in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. lifted its holdings in shares of QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after acquiring an additional 63 shares during the last quarter. VERITY Wealth Advisors lifted its holdings in shares of QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after acquiring an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its holdings in shares of QUALCOMM by 1.2% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after acquiring an additional 66 shares during the last quarter. Finally, Transform Wealth LLC lifted its holdings in shares of QUALCOMM by 2.3% in the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after acquiring an additional 66 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 0.4 %

Shares of NASDAQ:QCOM traded up $0.85 during midday trading on Monday, reaching $200.03. The company’s stock had a trading volume of 6,798,058 shares, compared to its average volume of 9,349,510. The firm has a 50 day moving average of $195.82 and a 200-day moving average of $169.67. The firm has a market capitalization of $223.23 billion, a P/E ratio of 26.89, a PEG ratio of 2.42 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. Piper Sandler upped their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Tigress Financial upped their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity at QUALCOMM

In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,802.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,185 shares of company stock valued at $8,456,475. 0.08% of the stock is owned by insiders.

QUALCOMM 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.