Anchor Capital Advisors LLC Has $15.16 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Anchor Capital Advisors LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,117 shares of the wireless technology company’s stock after selling 22,781 shares during the quarter. Anchor Capital Advisors LLC’s holdings in QUALCOMM were worth $15,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake 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 during the period. Financial Connections Group Inc. purchased a new position in QUALCOMM during the 2nd quarter worth approximately $32,000. Aspect Partners LLC raised its stake 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 purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM in the first quarter worth $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 3.4 %

Shares of QUALCOMM stock opened at $158.19 on Friday. 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 stock has a 50 day moving average price of $179.95 and a two-hundred day moving average price of $181.55. The stock has a market capitalization of $176.54 billion, a P/E ratio of 21.26, a PEG ratio of 1.93 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts expect that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm 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 2.15%. QUALCOMM’s payout ratio is presently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,000 shares of company stock valued at $3,496,590. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Robert W. Baird increased their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Finally, Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

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.