Spectrum Financial Alliance Ltd LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Spectrum Financial Alliance Ltd LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 258,171 shares of the wireless technology company’s stock after selling 2,905 shares during the period. QUALCOMM makes up 18.4% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its largest holding. Spectrum Financial Alliance Ltd LLC’s holdings in QUALCOMM were worth $51,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of QCOM. Alexander Randolph Advisory Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $305,000. City Holding Co. raised its holdings in QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after buying an additional 199 shares during the last quarter. Bard Financial Services Inc. raised its holdings in QUALCOMM by 0.4% in the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock worth $5,032,000 after buying an additional 125 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in QUALCOMM in the fourth quarter worth about $296,000. Finally, BNP Paribas purchased a new position in QUALCOMM in the first quarter worth about $3,104,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, KeyCorp boosted their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

QUALCOMM Price Performance

Shares of QCOM traded down $1.69 during mid-day trading on Monday, reaching $170.49. The stock had a trading volume of 2,386,831 shares, compared to its average volume of 9,350,969. The firm has a market cap of $190.27 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.84 and a beta of 1.27. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The business has a fifty day moving average of $192.28 and a 200 day moving average of $179.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given 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 1.99%. QUALCOMM’s payout ratio is currently 45.70%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction 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 sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold a total of 23,185 shares of company stock worth $4,332,134 over the last three months. 0.08% of the stock is currently owned by company insiders.

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.