Constitution Capital LLC Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Constitution Capital LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,930 shares of the wireless technology company’s stock after selling 200 shares during the quarter. Constitution Capital LLC’s holdings in QUALCOMM were worth $230,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of QUALCOMM by 2.5% during the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after acquiring an additional 1,183,406 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after acquiring an additional 24,566,978 shares in the last quarter. Morgan Stanley grew its stake in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after acquiring an additional 3,929,586 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 2.1% during the first quarter. Geode Capital Management LLC now owns 21,033,199 shares of the wireless technology company’s stock valued at $2,677,836,000 after acquiring an additional 433,886 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of QUALCOMM by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 18,000,148 shares of the wireless technology company’s stock valued at $1,978,936,000 after acquiring an additional 129,132 shares in the last quarter. 71.10% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 2.0 %

NASDAQ QCOM traded down $2.22 on Tuesday, hitting $110.53. 1,968,504 shares of the stock were exchanged, compared to its average volume of 8,112,380. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $139.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.42 and a quick ratio of 1.64. The company has a market capitalization of $121.58 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.10 and a beta of 1.23. The company’s 50-day moving average price is $117.12 and its two-hundred day moving average price is $116.90.

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

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, August 30th. QUALCOMM’s dividend payout ratio is currently 41.88%.

Insider Activity

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

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Susquehanna decreased their price target on QUALCOMM from $145.00 to $140.00 and set a “positive” rating for the company in a research note on Thursday, August 3rd. Bank of America lifted their price target on QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. Deutsche Bank Aktiengesellschaft downgraded QUALCOMM from a “buy” rating to a “hold” rating and decreased their price target for the stock from $130.00 to $121.00 in a research note on Thursday, August 3rd. Mizuho reiterated a “buy” rating and issued a $140.00 price target on shares of QUALCOMM in a research note on Wednesday, August 23rd. Finally, Wolfe Research started coverage on QUALCOMM in a research note on Wednesday, July 19th. They issued an “outperform” rating and a $145.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $141.96.

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