Smithfield Trust Co Sells 625 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Smithfield Trust Co decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.7% in the 4th quarter, Holdings Channel reports. The firm owned 3,934 shares of the wireless technology company’s stock after selling 625 shares during the quarter. Smithfield Trust Co’s holdings in QUALCOMM were worth $602,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Paulson Wealth Management Inc. grew its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares during the period. TBH Global Asset Management LLC grew its position in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares during the period. Delta Financial Advisors LLC boosted its holdings in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings in QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $158.49 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The stock has a 50 day moving average price of $164.73 and a two-hundred day moving average price of $165.29. The company has a market capitalization of $175.29 billion, a P/E ratio of 16.93, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QCOM. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by insiders.

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.