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

Simmons Bank cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) 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.

Read Our Latest Stock Analysis on QCOM

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

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOMFree Report).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.