LS Investment Advisors LLC Sells 21,516 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

LS Investment Advisors LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,609 shares of the wireless technology company’s stock after selling 21,516 shares during the period. QUALCOMM accounts for 2.1% of LS Investment Advisors LLC’s investment portfolio, making the stock its 14th biggest position. LS Investment Advisors LLC’s holdings in QUALCOMM were worth $16,524,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of QCOM. GeoWealth Management LLC raised its holdings in QUALCOMM by 308.0% in the first quarter. GeoWealth Management LLC now owns 204 shares of the wireless technology company’s stock worth $27,000 after buying an additional 154 shares during the last quarter. Clean Yield Group bought a new stake in shares of QUALCOMM during the 2nd quarter valued at $29,000. Baillie Gifford & Co. purchased a new position in shares of QUALCOMM in the second quarter valued at about $29,000. Wagner Wealth Management LLC bought a new position in shares of QUALCOMM in the first quarter worth about $31,000. Finally, Disciplined Investments LLC boosted its stake in shares of QUALCOMM by 420.0% in the second quarter. Disciplined Investments LLC now owns 234 shares of the wireless technology company’s stock worth $33,000 after acquiring an additional 189 shares during the period. 71.77% of the stock is owned by hedge funds and other institutional investors.

QCOM has been the topic of several recent analyst reports. Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “sell” rating and set a $150.00 price target on the stock. in a report on Wednesday, June 30th. Cowen lifted their target price on QUALCOMM from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Susquehanna reissued a “hold” rating and issued a $157.00 price target on shares of QUALCOMM in a report on Thursday, July 29th. The Goldman Sachs Group raised QUALCOMM from a “sell” rating to a “neutral” rating and increased their price objective for the company from $136.00 to $148.00 in a research note on Monday, July 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $190.00 price target on shares of QUALCOMM in a report on Monday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $167.81.

Shares of NASDAQ:QCOM traded down $0.21 during mid-day trading on Tuesday, reaching $132.55. 166,567 shares of the company’s stock were exchanged, compared to its average volume of 8,885,363. The firm has a market capitalization of $149.52 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.94 and a beta of 1.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.45 and a current ratio of 1.72. QUALCOMM Incorporated has a twelve month low of $108.30 and a twelve month high of $167.94. The business’s fifty day moving average price is $143.67 and its 200-day moving average price is $137.89.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 28th. The wireless technology company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. The firm had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.58 billion. QUALCOMM had a net margin of 28.25% and a return on equity of 102.31%. Analysts predict that QUALCOMM Incorporated will post 7.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, September 1st. QUALCOMM’s payout ratio 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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