Sather Financial Group Inc Sells 141 Shares of QUALCOMM, Inc. (NASDAQ:QCOM)

Sather Financial Group Inc reduced its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 320,292 shares of the wireless technology company’s stock after selling 141 shares during the quarter. QUALCOMM comprises about 4.6% of Sather Financial Group Inc’s investment portfolio, making the stock its 6th biggest position. Sather Financial Group Inc’s holdings in QUALCOMM were worth $24,364,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Clear Harbor Asset Management LLC grew its position in QUALCOMM by 420.9% during the second quarter. Clear Harbor Asset Management LLC now owns 28,006 shares of the wireless technology company’s stock worth $2,130,000 after buying an additional 22,630 shares in the last quarter. Perella Weinberg Partners Capital Management LP acquired a new stake in QUALCOMM during the second quarter worth about $9,503,000. Strategic Advisors LLC acquired a new stake in QUALCOMM during the second quarter worth about $222,000. AE Wealth Management LLC grew its position in QUALCOMM by 163.3% during the second quarter. AE Wealth Management LLC now owns 50,348 shares of the wireless technology company’s stock worth $3,830,000 after buying an additional 31,224 shares in the last quarter. Finally, Moody National Bank Trust Division grew its position in QUALCOMM by 0.3% during the second quarter. Moody National Bank Trust Division now owns 93,243 shares of the wireless technology company’s stock worth $7,093,000 after buying an additional 323 shares in the last quarter. 76.16% of the stock is currently owned by institutional investors.

Shares of NASDAQ:QCOM traded up $0.06 during trading on Friday, reaching $71.26. The stock had a trading volume of 469,657 shares, compared to its average volume of 10,154,721. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The firm has a 50-day simple moving average of $74.42. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39. The company has a market cap of $90.95 billion, a PE ratio of 22.29, a PEG ratio of 1.61 and a beta of 1.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. QUALCOMM’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities research analysts anticipate that QUALCOMM, Inc. will post 3.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.

In other news, EVP Michelle M. Sterling sold 5,560 shares of QUALCOMM stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 20,862 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $88.43, for a total transaction of $1,844,826.66. The disclosure for this sale can be found here. Insiders sold 61,931 shares of company stock valued at $5,334,769 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently weighed in on QCOM shares. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Barclays downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $90.00 to $75.00 in a research report on Thursday, July 18th. Macquarie set a $90.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Cfra set a $80.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Deutsche Bank cut their price target on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $79.93.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless 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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