Chevy Chase Trust Holdings LLC Sells 12,786 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Chevy Chase Trust Holdings LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 599,987 shares of the wireless technology company’s stock after selling 12,786 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of QUALCOMM worth $102,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Mather Group LLC. boosted its holdings in QUALCOMM by 51.6% during the second quarter. Mather Group LLC. now owns 20,826 shares of the wireless technology company’s stock valued at $4,148,000 after acquiring an additional 7,085 shares during the period. Lynx Investment Advisory bought a new stake in QUALCOMM during the 2nd quarter valued at approximately $250,000. Kingswood Wealth Advisors LLC grew its holdings in QUALCOMM by 30.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 22,996 shares of the wireless technology company’s stock valued at $4,580,000 after buying an additional 5,387 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its position in QUALCOMM by 9.5% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 6,177 shares of the wireless technology company’s stock worth $1,230,000 after buying an additional 534 shares during the period. Finally, Park Avenue Securities LLC increased its position in QUALCOMM by 29.2% in the 2nd quarter. Park Avenue Securities LLC now owns 33,245 shares of the wireless technology company’s stock worth $6,622,000 after buying an additional 7,522 shares during the period. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. 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 data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $210.15.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,450 shares of company stock worth $2,911,306 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.53 on Monday. The stock has a 50-day simple moving average of $166.64 and a 200 day simple moving average of $180.58. The stock has a market capitalization of $176.13 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 2.67 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $127.49 and a 12-month high of $230.63.

QUALCOMM Announces Dividend

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 issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.