STF Management LP Sells 866 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

STF Management LP decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,733 shares of the wireless technology company’s stock after selling 866 shares during the period. QUALCOMM accounts for approximately 1.5% of STF Management LP’s investment portfolio, making the stock its 15th biggest holding. STF Management LP’s holdings in QUALCOMM were worth $3,532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of QUALCOMM in the second quarter valued at about $218,456,000. Citizens Financial Group Inc. RI increased its position in shares of QUALCOMM by 957.1% during the second quarter. Citizens Financial Group Inc. RI now owns 37,706 shares of the wireless technology company’s stock worth $7,510,000 after buying an additional 34,139 shares during the period. Quantbot Technologies LP acquired a new position in QUALCOMM in the second quarter valued at $2,995,000. Sierra Summit Advisors LLC raised its position in shares of QUALCOMM by 12.3% in the 2nd quarter. Sierra Summit Advisors LLC now owns 8,047 shares of the wireless technology company’s stock worth $1,603,000 after acquiring an additional 879 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following 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 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 three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $167.73 on Monday. The firm’s 50 day moving average is $176.11 and its 200 day moving average is $182.05. The stock has a market capitalization of $186.85 billion, a P/E ratio of 22.54, a PEG ratio of 1.81 and a beta of 1.28. 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.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating 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 analysts’ expectations of $9.23 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 8 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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird raised their price objective 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. TD Cowen upped their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Wells Fargo & Company raised their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. HSBC downgraded 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. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.