QUALCOMM Incorporated (NASDAQ:QCOM) is Benedict Financial Advisors Inc.’s 7th Largest Position

Benedict Financial Advisors Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the second quarter, Holdings Channel.com reports. The firm owned 42,740 shares of the wireless technology company’s stock after selling 1,541 shares during the period. QUALCOMM comprises about 2.2% of Benedict Financial Advisors Inc.’s holdings, making the stock its 7th biggest position. Benedict Financial Advisors Inc.’s holdings in QUALCOMM were worth $8,513,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. City Holding Co. grew its position in QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares during the last quarter. Bard Financial Services Inc. grew its position in QUALCOMM by 0.4% in the 4th quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock valued at $5,032,000 after acquiring an additional 125 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in QUALCOMM in the 4th quarter valued at $296,000. BNP Paribas bought a new position in QUALCOMM in the 1st quarter valued at $3,104,000. Finally, SWP Financial LLC bought a new position in shares of QUALCOMM during the 4th quarter worth $593,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 3.4 %

NASDAQ:QCOM traded up $5.81 on Friday, reaching $175.30. The company’s stock had a trading volume of 11,110,813 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 quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $195.63 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. The stock has a 50 day moving average price of $183.33 and a 200 day moving average price of $180.93.

QUALCOMM (NASDAQ:QCOM) last posted 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 company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid 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 1.94%. QUALCOMM’s payout ratio is presently 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Mizuho increased their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Rosenblatt Securities increased their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna increased their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Finally, KeyCorp increased their price target on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

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 stock was 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 directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 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. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by corporate insiders.

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.