Gemmer Asset Management LLC Has $803,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Gemmer Asset Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 65.9% in the second quarter, Holdings Channel reports. The firm owned 4,031 shares of the wireless technology company’s stock after purchasing an additional 1,601 shares during the quarter. Gemmer Asset Management LLC’s holdings in QUALCOMM were worth $803,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth approximately $37,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the fourth quarter valued at approximately $32,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total transaction of $1,539,081.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,285 shares of company stock valued at $5,871,215. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $6.58 during mid-day trading on Tuesday, reaching $169.47. 10,668,024 shares of the company’s stock traded hands, compared to its average volume of 9,424,060. The firm has a 50 day moving average price of $195.29 and a two-hundred day moving average price of $178.96. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market capitalization of $189.13 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QCOM shares. Robert W. Baird increased their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America lifted their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. UBS Group increased their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Mizuho increased their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

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.