QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Washington Trust Bank

Washington Trust Bank reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,777 shares of the wireless technology company’s stock after selling 81 shares during the period. Washington Trust Bank’s holdings in QUALCOMM were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Thompson Siegel & Walmsley LLC lifted its stake in QUALCOMM by 0.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 17,112 shares of the wireless technology company’s stock valued at $2,910,000 after purchasing an additional 150 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter valued at approximately $1,617,000. GenTrust LLC raised its holdings in shares of QUALCOMM by 128.2% during the third quarter. GenTrust LLC now owns 2,396 shares of the wireless technology company’s stock valued at $407,000 after acquiring an additional 1,346 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of QUALCOMM by 20.0% during the third quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company’s stock valued at $287,000 after acquiring an additional 283 shares during the period. Finally, Certified Advisory Corp raised its holdings in shares of QUALCOMM by 8.5% during the third quarter. Certified Advisory Corp now owns 10,023 shares of the wireless technology company’s stock valued at $1,704,000 after acquiring an additional 787 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were 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 directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QCOM shares. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen 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, the company currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $156.82 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $173.44 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.01 and a beta of 1.28. The company’s fifty day moving average is $164.51 and its two-hundred day moving average is $163.98. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

QUALCOMM Company 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.