QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 175,460 shares of the wireless technology company’s stock after selling 1,024 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in QUALCOMM were worth $29,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Courier Capital LLC raised its position in QUALCOMM by 14.6% in the third quarter. Courier Capital LLC now owns 2,908 shares of the wireless technology company’s stock valued at $495,000 after purchasing an additional 370 shares during the period. McAdam LLC raised its position in QUALCOMM by 11.5% in the third quarter. McAdam LLC now owns 1,900 shares of the wireless technology company’s stock valued at $323,000 after purchasing an additional 196 shares during the period. International Assets Investment Management LLC raised its position in QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the period. YHB Investment Advisors Inc. raised its position in QUALCOMM by 3.7% in the third quarter. YHB Investment Advisors Inc. now owns 2,365 shares of the wireless technology company’s stock valued at $402,000 after purchasing an additional 85 shares during the period. Finally, DT Investment Partners LLC increased its position in shares of QUALCOMM by 4.2% during the third quarter. DT Investment Partners LLC now owns 7,605 shares of the wireless technology company’s stock worth $1,293,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock worth $7,713,734 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $165.43 on Friday. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 2.01 and a beta of 1.25. The stock’s fifty day simple moving average is $164.46 and its 200-day simple moving average is $165.72.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on QCOM shares. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.