Mercer Global Advisors Inc. ADV Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mercer Global Advisors Inc. ADV reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 556,146 shares of the wireless technology company’s stock after selling 9,369 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in QUALCOMM were worth $110,773,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QCOM. Pine Haven Investment Counsel Inc lifted its stake in shares of QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal lifted its stake in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares during the last quarter. TRUE Private Wealth Advisors lifted its stake in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its stake in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. lifted its stake 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 purchasing an additional 60 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.3 %

QUALCOMM stock opened at $168.70 on Wednesday. The firm has a market cap of $188.27 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The business’s 50-day moving average price is $174.52 and its 200 day moving average price is $182.15. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 8 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. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. 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. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Friday, August 2nd. 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, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company’s stock.

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.