First County Bank CT Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First County Bank CT reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,228 shares of the wireless technology company’s stock after selling 271 shares during the quarter. First County Bank CT’s holdings in QUALCOMM were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in QCOM. Pine Haven Investment Counsel Inc lifted its holdings in QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares in the last quarter. Buffington Mohr McNeal increased its position in shares of QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares during the period. TRUE Private Wealth Advisors raised its stake in shares of QUALCOMM by 2.2% during the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after acquiring an additional 57 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after purchasing an additional 57 shares during the period. 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 worth $40,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock valued at $2,911,306 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Citigroup cut their price objective 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. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Trading Up 0.9 %

QUALCOMM stock opened at $156.79 on Friday. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The stock has a 50-day moving average price of $167.82 and a 200 day moving average price of $181.57. 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 market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

QUALCOMM 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.