Patton Albertson Miller Group LLC Sells 1,505 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Patton Albertson Miller Group LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,328 shares of the wireless technology company’s stock after selling 1,505 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in QUALCOMM were worth $1,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. increased its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM in the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC raised its holdings in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $35,000. Finally, Cranbrook Wealth Management LLC lifted its position in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.0 %

NASDAQ QCOM traded down $0.01 on Thursday, hitting $180.54. 5,508,369 shares of the company were exchanged, compared to its average volume of 8,663,888. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $184.31. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $201.48 billion, a PE ratio of 24.27, a PEG ratio of 2.27 and a beta of 1.33. The stock has a fifty day moving average of $169.12 and a 200-day moving average of $148.31.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.88%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,316 shares of company stock valued at $7,796,128. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Citigroup increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Susquehanna boosted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.48.

QUALCOMM Company Profile

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.