Simmons Bank Sells 260 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Simmons Bank cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,872 shares of the wireless technology company’s stock after selling 260 shares during the period. Simmons Bank’s holdings in QUALCOMM were worth $4,059,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $30,000. Reston Wealth Management LLC bought a new stake in QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. grew its stake in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QCOM. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday. They issued a “hold” rating and a $180.00 price objective for the company. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. 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 dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $163.41 on Wednesday. The firm has a market capitalization of $181.55 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $168.39 and its 200-day moving average price is $182.44. QUALCOMM Incorporated has a 12 month low of $122.63 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.