QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,702 shares of the wireless technology company’s stock after selling 1,863 shares during the period. QUALCOMM makes up approximately 2.0% of Isthmus Partners LLC’s investment portfolio, making the stock its 4th biggest holding. Isthmus Partners LLC’s holdings in QUALCOMM were worth $11,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. JNBA Financial Advisors increased its stake in shares of QUALCOMM by 0.6% in the second quarter. JNBA Financial Advisors now owns 11,556 shares of the wireless technology company’s stock worth $1,652,000 after buying an additional 70 shares during the last quarter. Sentinel Trust Co. LBA lifted its holdings in QUALCOMM by 1.1% in the second quarter. Sentinel Trust Co. LBA now owns 6,177 shares of the wireless technology company’s stock worth $883,000 after purchasing an additional 70 shares during the period. Iowa State Bank lifted its holdings in QUALCOMM by 0.4% in the second quarter. Iowa State Bank now owns 17,367 shares of the wireless technology company’s stock worth $2,482,000 after purchasing an additional 75 shares during the period. Winch Advisory Services LLC lifted its holdings in QUALCOMM by 15.7% in the second quarter. Winch Advisory Services LLC now owns 552 shares of the wireless technology company’s stock worth $79,000 after purchasing an additional 75 shares during the period. Finally, Roberts Glore & Co. Inc. IL lifted its holdings in QUALCOMM by 3.2% in the second quarter. Roberts Glore & Co. Inc. IL now owns 2,415 shares of the wireless technology company’s stock worth $345,000 after purchasing an additional 75 shares during the period. Institutional investors own 71.77% of the company’s stock.

A number of analysts have commented on QCOM shares. Cowen upped their price objective on shares of QUALCOMM from $180.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Morgan Stanley upped their target price on QUALCOMM from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Canaccord Genuity restated a “buy” rating and issued a $225.00 price objective (up previously from $200.00) on shares of QUALCOMM in a report on Thursday, August 12th. KeyCorp increased their price objective on QUALCOMM from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Finally, Susquehanna reaffirmed a “hold” rating and set a $157.00 target price on shares of QUALCOMM in a research report on Thursday, July 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $167.81.

NASDAQ:QCOM traded down $2.94 during trading hours on Wednesday, hitting $138.20. 242,857 shares of the company’s stock traded hands, compared to its average volume of 8,847,491. The company has a quick ratio of 1.45, a current ratio of 1.72 and a debt-to-equity ratio of 1.67. The business’s fifty day simple moving average is $144.06 and its two-hundred day simple moving average is $137.84. QUALCOMM Incorporated has a 52 week low of $108.30 and a 52 week high of $167.94. The firm has a market cap of $155.89 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.94 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 28th. The wireless technology company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.24. QUALCOMM had a return on equity of 102.31% and a net margin of 28.25%. The firm had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.58 billion. On average, analysts expect that QUALCOMM Incorporated will post 7.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be issued a dividend of $0.68 per share. The ex-dividend date is Wednesday, September 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is 81.44%.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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