QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 32.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,087 shares of the wireless technology company’s stock after selling 12,191 shares during the period. Montag A & Associates Inc.’s holdings in QUALCOMM were worth $3,628,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. grew its stake in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. Morgan Stanley increased its stake in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares during the last quarter. Northern Trust Corp increased its position in QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after purchasing an additional 415,398 shares during the last quarter. Invesco Ltd. raised its position in QUALCOMM by 15.7% during the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock valued at $913,752,000 after purchasing an additional 259,403 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. Mizuho upped their target price on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. KeyCorp raised their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler increased their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.48.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $0.01 during trading on Thursday, reaching $180.54. 5,508,369 shares of the stock were exchanged, compared to its average volume of 8,663,888. The firm 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 company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $184.31. The stock has a 50-day moving average price of $169.12 and a 200-day moving average price of $148.31.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,316 shares of company stock valued at $7,796,128. 0.08% of the stock is owned by company insiders.

QUALCOMM 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.