Atlas Capital Advisors LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Atlas Capital Advisors LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,828 shares of the wireless technology company’s stock after selling 340 shares during the period. Atlas Capital Advisors LLC’s holdings in QUALCOMM were worth $1,559,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the 4th quarter valued at about $32,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in shares of QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $5.81 during trading on Friday, reaching $175.30. The company had a trading volume of 11,109,168 shares, compared to its average volume of 9,294,073. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $195.63 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. The company has a fifty day moving average of $184.07 and a two-hundred day moving average of $180.77.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 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 analysts’ expectations of $9.23 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on QCOM shares. Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Rosenblatt Securities upped their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.