Logan Capital Management Inc. Sells 201 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Logan Capital Management Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,363 shares of the wireless technology company’s stock after selling 201 shares during the quarter. Logan Capital Management Inc.’s holdings in QUALCOMM were worth $912,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of QCOM. Macroview Investment Management LLC raised its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after acquiring an additional 57 shares during the last quarter. McClarren Financial Advisors Inc. increased its holdings 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 during the last quarter. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares during the period. Tranquility Partners LLC lifted its stake in QUALCOMM by 2.1% in the second quarter. Tranquility Partners LLC now owns 3,044 shares of the wireless technology company’s stock valued at $606,000 after buying an additional 62 shares during the period. Finally, Institute for Wealth Management LLC. boosted its holdings in QUALCOMM by 0.5% during the second quarter. Institute for Wealth Management LLC. now owns 13,843 shares of the wireless technology company’s stock worth $2,757,000 after buying an additional 64 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of analyst reports. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Stock Up 0.2 %

QUALCOMM stock opened at $158.53 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company’s 50-day moving average is $164.97 and its 200-day moving average is $178.01. The firm has a market capitalization of $176.13 billion, a PE ratio of 17.63, a P/E/G ratio of 2.68 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $134.94 and a fifty-two week high of $230.63.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,540 shares of company stock worth $6,300,999 over the last 90 days. Company insiders own 0.08% of the company’s stock.

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.