AMG National Trust Bank Sells 777 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AMG National Trust Bank decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,210 shares of the wireless technology company’s stock after selling 777 shares during the quarter. AMG National Trust Bank’s holdings in QUALCOMM were worth $2,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in QCOM. State Street Corp raised its position in shares of QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC grew its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Bank of New York Mellon Corp raised its holdings in QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after purchasing an additional 193,236 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of QUALCOMM by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after buying an additional 110,828 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on QCOM shares. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 3.3 %

Shares of NASDAQ:QCOM opened at $161.22 on Friday. The stock’s 50-day simple moving average is $164.76 and its two-hundred day simple moving average is $165.14. The stock has a market capitalization of $178.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,045 shares of company stock valued at $7,752,423. 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.