Spinnaker Trust Sells 85 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Spinnaker Trust trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,800 shares of the wireless technology company’s stock after selling 85 shares during the period. Spinnaker Trust’s holdings in QUALCOMM were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC grew its position in shares of QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after acquiring an additional 50,438 shares during the period. Czech National Bank increased its stake in shares of QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares in the last quarter. Legal & General Group Plc increased its stake in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. bought a new position in shares of QUALCOMM in the second quarter worth about $1,539,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $172.99 on Thursday. The business’s 50 day moving average is $168.55 and its two-hundred day moving average is $182.14. QUALCOMM Incorporated has a 12-month low of $119.15 and a 12-month high of $230.63. The company has a market capitalization of $192.71 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.66 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s 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 completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,146 shares of company stock worth $2,709,186. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on QCOM. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.29.

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.