American Trust Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

American Trust decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 45.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,826 shares of the wireless technology company’s stock after selling 1,504 shares during the quarter. American Trust’s holdings in QUALCOMM were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter valued at $30,000. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM during the second quarter valued at $32,000. Aspect Partners LLC increased its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on QCOM shares. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.67.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 25,245 shares of company stock valued at $4,296,237 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $168.32 on Thursday. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a 50-day simple moving average of $168.35 and a two-hundred day simple moving average of $182.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market capitalization of $187.51 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s payout ratio is 45.70%.

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.