8,249 Qualcomm Incorporated $QCOM Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC lessened its holdings in Qualcomm Incorporated (NASDAQ:QCOM) by 5.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 149,508 shares of the wireless technology company’s stock after selling 8,249 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Qualcomm were worth $27,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Qualcomm in the second quarter worth about $17,583,115,000. State Street Corp grew its position in shares of Qualcomm by 1.3% during the second quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock worth $9,750,123,000 after purchasing an additional 671,537 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Qualcomm by 22.7% during the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after purchasing an additional 3,179,720 shares in the last quarter. Amundi grew its position in shares of Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after purchasing an additional 4,942,908 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Qualcomm during the 2nd quarter valued at approximately $1,523,930,000. 74.35% of the stock is owned by institutional investors.

Qualcomm Stock Performance

NASDAQ:QCOM opened at $162.08 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The stock’s 50 day simple moving average is $177.86 and its two-hundred day simple moving average is $169.42. The company has a market cap of $173.08 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 4.12 and a beta of 1.65.

Qualcomm Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $0.92 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.3%. Qualcomm’s dividend payout ratio (DPR) is 42.59%.

Insider Buying and Selling at Qualcomm

In related news, EVP Ann C. Chaplin sold 1,827 shares of the company’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $174.75, for a total transaction of $319,268.25. Following the sale, the executive vice president owned 25,770 shares of the company’s stock, valued at $4,503,307.50. This represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 625 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $162.85, for a total transaction of $101,781.25. Following the transaction, the chief accounting officer owned 208 shares of the company’s stock, valued at $33,872.80. This trade represents a 75.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,258 shares of company stock valued at $5,727,616. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $160.00 price target on Qualcomm in a report on Thursday, July 30th. Dbs Bank upgraded shares of Qualcomm to a “moderate buy” rating in a research report on Tuesday, July 7th. Zacks Research downgraded shares of Qualcomm from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. Cantor Fitzgerald dropped their target price on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Finally, Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $205.48.

About Qualcomm

Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.

Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.