Prosperity Consulting Group LLC Sells 952 Shares of QUALCOMM Incorporated $QCOM

Prosperity Consulting Group LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,575 shares of the wireless technology company’s stock after selling 952 shares during the quarter. Prosperity Consulting Group LLC’s holdings in QUALCOMM were worth $4,710,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Avion Wealth boosted its holdings in shares of QUALCOMM by 16.7% during the 2nd quarter. Avion Wealth now owns 441 shares of the wireless technology company’s stock valued at $70,000 after acquiring an additional 63 shares during the last quarter. Insight Advisors LLC PA lifted its holdings in QUALCOMM by 1.8% during the second quarter. Insight Advisors LLC PA now owns 3,488 shares of the wireless technology company’s stock valued at $556,000 after purchasing an additional 63 shares in the last quarter. Capital Advantage Inc. lifted its holdings in QUALCOMM by 2.8% during the second quarter. Capital Advantage Inc. now owns 2,353 shares of the wireless technology company’s stock valued at $375,000 after purchasing an additional 64 shares in the last quarter. Rise Advisors LLC lifted its holdings in QUALCOMM by 6.7% during the first quarter. Rise Advisors LLC now owns 1,048 shares of the wireless technology company’s stock valued at $161,000 after purchasing an additional 66 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in QUALCOMM by 4.6% during the first quarter. Bell Investment Advisors Inc now owns 1,504 shares of the wireless technology company’s stock valued at $231,000 after purchasing an additional 66 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Susquehanna lifted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Citigroup lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Arete upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Tuesday, August 26th. UBS Group set a $165.00 price objective on shares of QUALCOMM in a research report on Monday, October 27th. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.95.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 8,335 shares of QUALCOMM stock in a transaction on Monday, October 20th. The shares were sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction on Friday, September 12th. The stock was sold at an average price of $161.42, for a total transaction of $44,067.66. Following the transaction, the chief accounting officer directly owned 404 shares of the company’s stock, valued at $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 163,169 shares of company stock valued at $26,978,998 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 0.1%

Shares of QCOM opened at $180.72 on Tuesday. The company’s fifty day moving average is $166.34 and its 200 day moving average is $157.13. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $205.95. The stock has a market capitalization of $195.00 billion, a PE ratio of 17.43, a P/E/G ratio of 2.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

QUALCOMM Company Profile

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.