Keybank National Association OH Sells 7,599 Shares of QUALCOMM Incorporated $QCOM

Keybank National Association OH cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% during the second quarter, HoldingsChannel reports. The firm owned 148,727 shares of the wireless technology company’s stock after selling 7,599 shares during the period. Keybank National Association OH’s holdings in QUALCOMM were worth $23,686,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC increased its position in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after buying an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC increased its position in QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 93 shares during the period. Chung Wu Investment Group LLC bought a new position in QUALCOMM during the second quarter worth $32,000. Harbor Asset Planning Inc. bought a new position in QUALCOMM during the second quarter worth $32,000. Finally, Atticus Wealth Management LLC increased its holdings in shares of QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 212 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $177.26 on Friday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month 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. The stock has a 50-day simple moving average of $165.40 and a 200 day simple moving average of $156.26. The stock has a market capitalization of $191.26 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. QUALCOMM’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.33 EPS. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s payout ratio is currently 34.33%.

Insider Buying and Selling 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 shares were sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the sale, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Patricia Y. Grech sold 201 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 203 shares in the company, valued at approximately $34,510. This trade represents a 49.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 166,502 shares of company stock worth $27,472,615 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QCOM. UBS Group set a $165.00 price objective on shares of QUALCOMM in a report on Monday. Arete upgraded QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Tuesday, August 26th. Mizuho reduced their target price on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Tuesday. Finally, Arete Research set a $200.00 price target on shares of QUALCOMM in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $183.95.

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.