Milestone Asset Management LLC Lowers Holdings in QUALCOMM Incorporated $QCOM

Milestone Asset Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,569 shares of the wireless technology company’s stock after selling 722 shares during the quarter. Milestone Asset Management LLC’s holdings in QUALCOMM were worth $569,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of QCOM. Vermillion & White Wealth Management Group LLC raised its position in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in QUALCOMM in the 2nd quarter worth about $32,000. Harbor Asset Planning Inc. purchased a new position in QUALCOMM in the 2nd quarter worth about $32,000. Atticus Wealth Management LLC raised its position in QUALCOMM by 21,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after buying an additional 212 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in QUALCOMM by 44.6% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 256 shares of the wireless technology company’s stock worth $39,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. Arete Research set a $200.00 target price on QUALCOMM in a research report on Tuesday, August 26th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Tuesday, October 28th. Mizuho decreased their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Susquehanna boosted their target price on QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Finally, Citigroup boosted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.41.

QUALCOMM Trading Down 4.4%

QUALCOMM stock opened at $172.84 on Wednesday. The business has a 50-day simple moving average of $166.61 and a two-hundred day simple moving average of $157.38. The company has a market cap of $186.49 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.59 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is currently 34.33%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares in the company, valued at approximately $6,067,998.46. The trade was a 18.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Patricia Y. Grech sold 201 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total value of $34,170.00. Following the transaction, the chief accounting officer owned 203 shares of the company’s stock, valued at approximately $34,510. This trade represents a 49.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 163,169 shares of company stock valued at $26,978,998. 0.08% of the stock is owned by company insiders.

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.