QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 157,387 shares of the wireless technology company’s stock after selling 1,300 shares during the period. Welch & Forbes LLC’s holdings in QUALCOMM were worth $22,763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in QUALCOMM by 4.2% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,021 shares of the wireless technology company’s stock worth $1,739,000 after buying an additional 479 shares during the last quarter. Apollon Wealth Management LLC raised its position in QUALCOMM by 73.3% during the 4th quarter. Apollon Wealth Management LLC now owns 30,151 shares of the wireless technology company’s stock worth $4,361,000 after buying an additional 12,757 shares during the last quarter. Maryland State Retirement & Pension System raised its position in QUALCOMM by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 86,857 shares of the wireless technology company’s stock worth $12,562,000 after buying an additional 925 shares during the last quarter. Summit Trail Advisors LLC raised its position in QUALCOMM by 1.4% during the 4th quarter. Summit Trail Advisors LLC now owns 7,249 shares of the wireless technology company’s stock worth $1,048,000 after buying an additional 101 shares during the last quarter. Finally, Spire Wealth Management raised its position in QUALCOMM by 29.8% during the 4th quarter. Spire Wealth Management now owns 10,671 shares of the wireless technology company’s stock worth $1,622,000 after buying an additional 2,450 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 1.2 %

NASDAQ:QCOM traded up $2.21 during trading hours on Monday, hitting $181.85. The company had a trading volume of 6,976,661 shares, compared to its average volume of 8,731,813. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $183.19. The company has a market cap of $202.94 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a 50-day moving average of $168.19 and a 200 day moving average of $147.58. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock valued at $7,796,128 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Morgan Stanley lifted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

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.