AMG National Trust Bank Has $2.47 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

AMG National Trust Bank cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 17,092 shares of the wireless technology company’s stock after selling 450 shares during the period. AMG National Trust Bank’s holdings in QUALCOMM were worth $2,472,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares during the period. Pacer Advisors Inc. raised its stake in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Barclays PLC lifted its holdings in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after acquiring an additional 1,842,868 shares during the period. Invesco Ltd. raised its position in QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,260 shares of company stock worth $11,478,430. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QCOM shares. Robert W. Baird upped their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. HSBC increased their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Citigroup upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.48.

Check Out Our Latest Stock Report on QCOM

QUALCOMM Stock Up 0.3 %

Shares of NASDAQ:QCOM traded up $0.59 during trading on Friday, hitting $193.86. 5,799,714 shares of the company’s stock traded hands, compared to its average volume of 8,596,046. The company has a 50-day moving average price of $172.21 and a 200-day moving average price of $152.27. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $196.08. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $216.35 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 2.39 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.75%. QUALCOMM’s dividend payout ratio is presently 45.70%.

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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