Perkins Coie Trust Co Sells 579 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Perkins Coie Trust Co lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,722 shares of the wireless technology company’s stock after selling 579 shares during the quarter. Perkins Coie Trust Co’s holdings in QUALCOMM were worth $4,719,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of QCOM. Nordea Investment Management AB raised its holdings in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. FNY Investment Advisers LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $2,058,000. Burney Co. raised its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC grew its stake in shares of QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after acquiring an additional 18,315 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $164.56 on Friday. The stock has a 50 day moving average price of $158.85 and a 200 day moving average price of $169.03. The firm has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analyst Weigh In

A number of research firms have commented on QCOM. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by company insiders.

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.