QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Argent Trust Co

Argent Trust Co trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,495 shares of the wireless technology company’s stock after selling 75 shares during the period. Argent Trust Co’s holdings in QUALCOMM were worth $16,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its position in shares of QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after acquiring an additional 356 shares during the period. Gryphon Financial Partners LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $334,000. Hillsdale Investment Management Inc. raised its stake in shares of QUALCOMM by 27.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock worth $190,000 after purchasing an additional 280 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of QUALCOMM by 3.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 14,631 shares of the wireless technology company’s stock worth $2,116,000 after purchasing an additional 516 shares during the period. Finally, Associated Banc Corp purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $248,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.3 %

QCOM stock opened at $168.70 on Wednesday. The company has a market cap of $188.27 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a 50-day moving average of $174.52 and a two-hundred day moving average of $182.15.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Ratings Changes

A number of equities analysts have issued reports on QCOM shares. Mizuho raised their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird upped their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Bank of America upped their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $211.67.

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.