ProShare Advisors LLC Sells 40,177 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

ProShare Advisors LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,208,723 shares of the wireless technology company’s stock after selling 40,177 shares during the quarter. ProShare Advisors LLC owned approximately 0.11% of QUALCOMM worth $143,886,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QCOM. Stock Yards Bank & Trust Co. raised its holdings in QUALCOMM by 1.6% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 39,999 shares of the wireless technology company’s stock valued at $4,761,000 after acquiring an additional 638 shares during the period. DCF Advisers LLC raised its holdings in QUALCOMM by 40.0% during the 2nd quarter. DCF Advisers LLC now owns 7,000 shares of the wireless technology company’s stock valued at $833,000 after acquiring an additional 2,000 shares during the period. Dearborn Partners LLC raised its holdings in QUALCOMM by 0.4% during the 2nd quarter. Dearborn Partners LLC now owns 361,703 shares of the wireless technology company’s stock valued at $43,057,000 after acquiring an additional 1,605 shares during the period. Russell Investments Group Ltd. raised its holdings in QUALCOMM by 65.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 826,807 shares of the wireless technology company’s stock valued at $98,190,000 after acquiring an additional 327,832 shares during the period. Finally, Callan Capital LLC raised its holdings in QUALCOMM by 21.0% during the 2nd quarter. Callan Capital LLC now owns 4,114 shares of the wireless technology company’s stock valued at $490,000 after acquiring an additional 714 shares during the period. Institutional investors own 71.10% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $129.58 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.67 and a current ratio of 2.33. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $139.94. The company has a market capitalization of $144.61 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.44 and a beta of 1.21. The company has a 50 day simple moving average of $113.29 and a two-hundred day simple moving average of $114.73.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.20 annualized dividend and a dividend yield of 2.47%. QUALCOMM’s payout ratio is 49.84%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of QUALCOMM from a “buy” rating to a “hold” rating and lowered their target price for the company from $130.00 to $121.00 in a report on Thursday, August 3rd. KeyCorp restated an “overweight” rating and set a $145.00 price target on shares of QUALCOMM in a research report on Thursday, September 14th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, November 3rd. Evercore ISI reduced their price target on shares of QUALCOMM from $140.00 to $135.00 in a research report on Thursday, October 5th. Finally, Susquehanna boosted their price target on shares of QUALCOMM from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.85.

Insider Activity

In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the insider now directly owns 5,745 shares in the company, valued at approximately $639,246.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 27,962 shares of QUALCOMM 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 sale, the chief technology officer now directly owns 241,369 shares in the company, valued at approximately $27,330,211.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now owns 5,745 shares in the company, valued at $639,246.15. The disclosure for this sale can be found here. Insiders have sold 46,963 shares of company stock worth $5,377,298 in the last three months. Company insiders own 0.07% of the company’s stock.

About QUALCOMM

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.