QUALCOMM, Inc. (QCOM) Shares Sold by Stewart & Patten Co. LLC
Stewart & Patten Co. LLC trimmed its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 85.9% in the fourth quarter, HoldingsChannel reports. The firm owned 23,275 shares of the wireless technology company’s stock after selling 141,655 shares during the quarter. Stewart & Patten Co. LLC’s holdings in QUALCOMM were worth $1,490,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Westwood Holdings Group Inc. purchased a new stake in QUALCOMM in the second quarter valued at approximately $114,000. Cerebellum GP LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $126,000. Krilogy Financial LLC lifted its stake in QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new stake in QUALCOMM in the second quarter valued at approximately $141,000. Finally, Jacobi Capital Management LLC lifted its stake in QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after buying an additional 200 shares during the last quarter. 75.67% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM, Inc. (QCOM) opened at $64.74 on Friday. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28. The firm has a market capitalization of $95,510.00, a price-to-earnings ratio of -26.42, a P/E/G ratio of 2.02 and a beta of 1.35. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -93.06%.
QCOM has been the subject of a number of research reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective for the company in a research note on Monday, November 13th. Canaccord Genuity boosted their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Citigroup boosted their price objective on QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Standpoint Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, UBS Group reduced their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.25.
In other QUALCOMM news, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at $709,484.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares in the company, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders have sold 45,812 shares of company stock worth $2,996,776 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.
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QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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