American Trust Sells 96 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

American Trust decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,730 shares of the wireless technology company’s stock after selling 96 shares during the quarter. American Trust’s holdings in QUALCOMM were worth $294,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter worth approximately $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the 2nd quarter valued at approximately $32,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter worth $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction 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 5.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,540 shares of company stock valued at $6,300,999 over the last ninety days. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent research reports. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Evercore ISI increased their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.00.

QUALCOMM Trading Up 0.2 %

NASDAQ:QCOM opened at $158.53 on Friday. The firm has a market capitalization of $176.13 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.68 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $164.97 and a 200 day moving average of $178.01. QUALCOMM Incorporated has a 52 week low of $134.94 and a 52 week high of $230.63.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.14%. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.