Chevy Chase Trust Holdings LLC Has $102.03 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Chevy Chase Trust Holdings LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 599,987 shares of the wireless technology company’s stock after selling 12,786 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in QUALCOMM were worth $102,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of QCOM. Pine Haven Investment Counsel Inc boosted its position in shares of QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares in the last quarter. Buffington Mohr McNeal lifted its holdings in QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares in the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after acquiring an additional 57 shares in the last quarter. Macroview Investment Management LLC increased its holdings in shares of QUALCOMM by 10.5% in the second quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its position in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.4 %

QCOM stock opened at $158.53 on Monday. QUALCOMM Incorporated has a 1-year low of $127.49 and a 1-year high of $230.63. The business’s 50 day simple moving average is $166.64 and its 200 day simple moving average is $180.58. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $176.13 billion, a PE ratio of 17.63, a PEG ratio of 2.67 and a beta of 1.28.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Citigroup reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.