QUALCOMM Incorporated $QCOM Shares Sold by AMG National Trust Bank

AMG National Trust Bank reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the 2nd quarter, Holdings Channel reports. The firm owned 16,076 shares of the wireless technology company’s stock after selling 947 shares during the quarter. AMG National Trust Bank’s holdings in QUALCOMM were worth $2,560,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Atlantic Edge Private Wealth Management LLC raised its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of QUALCOMM in the 2nd quarter worth $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter worth $32,000. Finally, Atticus Wealth Management LLC increased its stake in shares of QUALCOMM by 21,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 212 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $180.90 on Friday. The stock has a market cap of $195.19 billion, a PE ratio of 17.44, a P/E/G ratio of 2.59 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $205.95. The stock has a fifty day simple moving average of $165.85 and a 200-day simple moving average of $156.54.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the prior year, the business posted $2.33 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio (DPR) is presently 34.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QCOM. Arete raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research note on Tuesday, August 26th. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Arete Research set a $200.00 target price on QUALCOMM in a research note on Tuesday, August 26th. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.95.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 8,335 shares of QUALCOMM stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $166.06, for a total value of $1,384,110.10. Following the completion of the transaction, the chief financial officer owned 36,541 shares in the company, valued at approximately $6,067,998.46. This trade represents a 18.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 791 shares of QUALCOMM stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the transaction, the chief accounting officer owned 1,106 shares of the company’s stock, valued at $171,230.92. The trade was a 41.70% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 166,502 shares of company stock worth $27,472,615. 0.08% of the stock is owned by company insiders.

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.