QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,169 shares of the wireless technology company’s stock after selling 111 shares during the quarter. Washington Trust Advisors Inc.’s holdings in QUALCOMM were worth $603,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QCOM. Rheos Capital Works Inc. grew its position in QUALCOMM by 36.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after acquiring an additional 42,500 shares in the last quarter. HF Advisory Group LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $629,000. DnB Asset Management AS increased its stake in QUALCOMM by 31.1% during the 3rd quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after buying an additional 215,522 shares during the period. Sather Financial Group Inc lifted its holdings in QUALCOMM by 5.8% during the 3rd quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after buying an additional 18,090 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in shares of QUALCOMM by 24.2% in the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock worth $4,382,000 after acquiring an additional 7,682 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Monday, March 4th. Piper Sandler upped their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Mizuho raised their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.19 during midday trading on Thursday, reaching $168.94. The stock had a trading volume of 1,822,409 shares, compared to its average volume of 8,948,304. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The stock has a market cap of $188.54 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.28 and a beta of 1.41. The firm has a fifty day simple moving average of $157.05 and a two-hundred day simple moving average of $135.64.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at $691,108. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock worth $5,457,048 in the last quarter. 0.08% of the stock is owned by insiders.

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.