Perkins Coie Trust Co Sells 579 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Perkins Coie Trust Co trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,722 shares of the wireless technology company’s stock after selling 579 shares during the quarter. Perkins Coie Trust Co’s holdings in QUALCOMM were worth $4,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QCOM. Paulson Wealth Management Inc. grew its position in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 61 shares in the last quarter. Blossom Wealth Management lifted its position in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 64 shares in the last quarter. Delta Financial Advisors LLC boosted its stake in shares of QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. Muirfield Wealth Advisors LLC grew its holdings in shares of QUALCOMM by 3.1% in the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after purchasing an additional 66 shares in the last quarter. Finally, Invst LLC increased its stake in QUALCOMM by 2.9% during the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after buying an additional 67 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $206.57.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM 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 owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ:QCOM opened at $164.56 on Friday. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a market cap of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The firm has a fifty day moving average price of $158.85 and a 200 day moving average price of $169.03.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s payout ratio is currently 37.82%.

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.