QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,420 shares of the wireless technology company’s stock after selling 1,761 shares during the period. QUALCOMM accounts for about 1.8% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 9th biggest holding. Plimoth Trust Co. LLC’s holdings in QUALCOMM were worth $6,856,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. grew its position in QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the 4th quarter worth approximately $32,000. Cherry Tree Wealth Management LLC grew its position in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares in the last quarter. Finally, Aspect Partners LLC grew its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $5.22 on Thursday, reaching $169.00. The company’s stock had a trading volume of 6,741,524 shares, compared to its average volume of 9,322,639. The firm has a market cap of $188.27 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. The business has a 50-day moving average price of $189.05 and a 200 day moving average price of $179.90. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

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 paid a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s dividend payout ratio is 45.70%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on QCOM shares. UBS Group lifted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Citigroup boosted their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.