QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Woodstock Corp

Woodstock Corp trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,736 shares of the wireless technology company’s stock after selling 3,680 shares during the quarter. QUALCOMM comprises 1.2% of Woodstock Corp’s investment portfolio, making the stock its 25th biggest holding. Woodstock Corp’s holdings in QUALCOMM were worth $10,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Independence Bank of Kentucky raised its position in QUALCOMM by 2.3% in the second quarter. Independence Bank of Kentucky now owns 5,763 shares of the wireless technology company’s stock worth $686,000 after acquiring an additional 130 shares in the last quarter. First Hawaiian Bank lifted its stake in shares of QUALCOMM by 56.7% during the second quarter. First Hawaiian Bank now owns 32,247 shares of the wireless technology company’s stock valued at $3,839,000 after buying an additional 11,666 shares during the period. Harvest Fund Management Co. Ltd increased its stake in QUALCOMM by 195.8% in the second quarter. Harvest Fund Management Co. Ltd now owns 42,131 shares of the wireless technology company’s stock valued at $5,013,000 after purchasing an additional 27,890 shares during the last quarter. Capital Market Strategies LLC purchased a new position in QUALCOMM during the second quarter worth about $285,000. Finally, O Keefe Stevens Advisory Inc. boosted its stake in QUALCOMM by 6.4% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 132,404 shares of the wireless technology company’s stock worth $15,761,000 after buying an additional 7,988 shares during the last quarter. 71.10% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QCOM traded down $0.35 during midday trading on Friday, reaching $113.69. The company’s stock had a trading volume of 2,511,498 shares, compared to its average volume of 8,108,416. The stock has a market cap of $126.88 billion, a P/E ratio of 14.93, a PEG ratio of 1.10 and a beta of 1.23. The company has a fifty day simple moving average of $117.20 and a 200 day simple moving average of $117.08. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $139.94.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.51 billion. Research analysts expect that QUALCOMM Incorporated will post 6.41 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.81%. QUALCOMM’s dividend payout ratio (DPR) is presently 41.88%.

Analysts Set New Price Targets

Several research firms recently issued reports on QCOM. Deutsche Bank Aktiengesellschaft cut shares of QUALCOMM from a “buy” rating to a “hold” rating and decreased their target price for the stock from $130.00 to $121.00 in a research report on Thursday, August 3rd. Piper Sandler upped their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Susquehanna reduced their price objective on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a research note on Thursday, August 3rd. Bank of America increased their target price on shares of QUALCOMM from $130.00 to $145.00 in a report on Friday, June 16th. Finally, Wolfe Research assumed coverage on shares of QUALCOMM in a report on Wednesday, July 19th. They set an “outperform” rating and a $145.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.96.

Insider Buying and Selling

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the completion of the transaction, the insider now owns 6,745 shares in the company, valued at approximately $770,009.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.16, for a total transaction of $114,160.00. Following the transaction, the insider now owns 6,745 shares of the company’s stock, valued at $770,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 27,962 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total value of $3,166,137.26. Following the transaction, the chief technology officer now directly owns 241,369 shares in the company, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. Insiders sold 29,962 shares of company stock worth $3,391,567 in the last 90 days. 0.07% of the stock is owned by company insiders.

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, application processing, multimedia, and global positioning system products.