Trust Co. of Vermont Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Trust Co. of Vermont trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,819 shares of the wireless technology company’s stock after selling 249 shares during the period. Trust Co. of Vermont’s holdings in QUALCOMM were worth $1,757,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. raised its stake in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM in the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC raised its stake in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM in the 1st quarter valued at about $37,000. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,129 shares of company stock worth $8,014,436. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 0.5 %

Shares of QUALCOMM stock traded up $0.77 during midday trading on Tuesday, reaching $158.72. 9,296,204 shares of the company’s stock traded hands, compared to its average volume of 9,984,102. The stock has a 50 day moving average of $199.87 and a 200-day moving average of $178.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.98 and a current ratio of 2.39. The company has a market cap of $176.81 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. Rosenblatt Securities lifted their target price on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup boosted their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

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.