Patton Albertson Miller Group LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Patton Albertson Miller Group LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,903 shares of the wireless technology company’s stock after selling 85 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in QUALCOMM were worth $1,174,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Legal & General Group Plc increased 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 valued at $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. Van ECK Associates Corp increased its stake in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the period. Charles Schwab Investment Management Inc. lifted its position in QUALCOMM by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,642,986 shares of the wireless technology company’s stock valued at $1,129,640,000 after purchasing an additional 52,897 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $970,951,000 after buying an additional 173,673 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of QUALCOMM by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after purchasing an additional 8,300 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated 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 sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock worth $2,911,306 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays lifted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM Trading Up 1.3 %

Shares of NASDAQ QCOM opened at $158.82 on Tuesday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The business has a 50-day moving average price of $167.67 and a two-hundred day moving average price of $181.44. The firm has a market capitalization of $176.45 billion, a PE ratio of 17.67, a PEG ratio of 2.64 and a beta of 1.28.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 37.82%.

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.