QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,949 shares of the wireless technology company’s stock after selling 645 shares during the period. First Financial Bankshares Inc’s holdings in QUALCOMM were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its holdings in shares of QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Czech National Bank raised its holdings in shares of QUALCOMM by 6.5% in the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $1,539,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a report on Wednesday, July 17th. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $207.92.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 1.3 %

Shares of QUALCOMM stock opened at $170.27 on Monday. The stock has a market capitalization of $190.02 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $169.16 and a 200 day simple moving average of $182.15. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is currently 45.70%.

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.