QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Argent Trust Co

Argent Trust Co cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,408 shares of the wireless technology company’s stock after selling 1,046 shares during the quarter. Argent Trust Co’s holdings in QUALCOMM were worth $13,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $527,053,000. Franklin Resources Inc. boosted its holdings in shares of QUALCOMM by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after buying an additional 709,644 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Down 4.9 %

QUALCOMM stock traded down $7.05 during midday trading on Thursday, hitting $136.55. 446,947 shares of the stock were exchanged, compared to its average volume of 8,795,282. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a fifty day simple moving average of $157.89 and a two-hundred day simple moving average of $161.88. The stock has a market capitalization of $151.02 billion, a PE ratio of 14.75, a P/E/G ratio of 2.01 and a beta of 1.28.

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 analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $202.64.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,018 shares of company stock worth $4,955,613. Corporate insiders own 0.08% of the company’s stock.

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.