QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.9% in the third quarter, Holdings Channel reports. The institutional investor owned 11,891 shares of the wireless technology company’s stock after selling 3,339 shares during the quarter. Evergreen Wealth Management LLC’s holdings in QUALCOMM were worth $2,022,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc lifted its stake in QUALCOMM by 0.9% during the second 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 during the last quarter. Van ECK Associates Corp boosted its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the first quarter worth $1,171,516,000. Dimensional Fund Advisors LP boosted its holdings in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in QUALCOMM by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,289,764 shares of the wireless technology company’s stock worth $559,424,000 after purchasing an additional 49,047 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.1 %

Shares of QCOM stock traded down $3.47 during mid-day trading on Friday, hitting $160.50. The company’s stock had a trading volume of 9,737,033 shares, compared to its average volume of 9,021,084. The company’s fifty day simple moving average is $168.35 and its 200-day simple moving average is $182.10. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market cap of $178.32 billion, a PE ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

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 dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Susquehanna dropped their price target on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Rosenblatt Securities boosted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. Insiders own 0.08% of the company’s stock.

QUALCOMM 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.