Abound Wealth Management Sells 139 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Abound Wealth Management lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306 shares of the wireless technology company’s stock after selling 139 shares during the quarter. Abound Wealth Management’s holdings in QUALCOMM were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $27,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC boosted its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares during the period. Finally, First Pacific Financial bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM 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 transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Rosenblatt Securities increased their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Finally, Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Trading Up 1.7 %

NASDAQ:QCOM opened at $167.73 on Monday. The company has a market cap of $186.85 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.82 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. The company has a 50 day simple moving average of $176.11 and a two-hundred day simple moving average of $182.05. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $9.23 billion. Research analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm 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 is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.03%. QUALCOMM’s payout ratio is presently 45.70%.

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.