Washington Trust Advisors Inc. Sells 111 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Washington Trust Advisors Inc. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,169 shares of the wireless technology company’s stock after selling 111 shares during the period. Washington Trust Advisors Inc.’s holdings in QUALCOMM were worth $603,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Milestone Investment Advisors LLC bought a new stake in QUALCOMM during the 1st quarter valued at about $26,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of QUALCOMM during the third quarter valued at $26,000. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $35,000. Finally, Pacific Center for Financial Services purchased a new stake in QUALCOMM during the 1st quarter valued at $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 0.1 %

NASDAQ QCOM traded down $0.19 during midday trading on Thursday, hitting $168.94. 1,822,409 shares of the company traded hands, compared to its average volume of 8,948,304. The company’s 50-day simple moving average is $157.05 and its 200-day simple moving average is $135.64. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market cap of $188.54 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s payout ratio is currently 46.38%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the sale, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at approximately $2,747,520. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock valued at $5,457,048 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on QCOM shares. Canaccord Genuity Group increased their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.71.

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.