Range Financial Group LLC Has $826,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Range Financial Group LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,150 shares of the wireless technology company’s stock after selling 135 shares during the quarter. Range Financial Group LLC’s holdings in QUALCOMM were worth $826,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. FineMark National Bank & Trust boosted its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. FineMark National Bank & Trust now owns 85,497 shares of the wireless technology company’s stock valued at $17,029,000 after purchasing an additional 779 shares in the last quarter. Cora Capital Advisors LLC bought a new stake in QUALCOMM during the second quarter worth about $233,000. Index Fund Advisors Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $265,000. Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in shares of QUALCOMM in the second quarter valued at approximately $230,000. Finally, Weaver Capital Management LLC acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $630,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Susquehanna lifted their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Tigress Financial raised their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Citigroup upped their target price on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $162.80 on Thursday. The company has a fifty day moving average price of $181.40 and a two-hundred day moving average price of $181.43. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The stock has a market cap of $181.36 billion, a P/E ratio of 22.22, a P/E/G ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

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.