Atlas Capital Advisors Inc. Sells 7,228 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Atlas Capital Advisors Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 79.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,814 shares of the wireless technology company's stock after selling 7,228 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in QUALCOMM were worth $279,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pitcairn Co. lifted its stake in QUALCOMM by 6.4% in the fourth quarter. Pitcairn Co. now owns 12,893 shares of the wireless technology company's stock worth $1,981,000 after purchasing an additional 779 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 20.2% in the 4th quarter. Arete Wealth Advisors LLC now owns 11,545 shares of the wireless technology company's stock valued at $1,777,000 after acquiring an additional 1,942 shares during the last quarter. World Investment Advisors boosted its holdings in QUALCOMM by 14.1% during the 4th quarter. World Investment Advisors now owns 51,528 shares of the wireless technology company's stock valued at $7,916,000 after acquiring an additional 6,362 shares during the period. Westpac Banking Corp grew its position in QUALCOMM by 15.9% during the 4th quarter. Westpac Banking Corp now owns 71,159 shares of the wireless technology company's stock worth $10,931,000 after acquiring an additional 9,760 shares during the last quarter. Finally, SevenBridge Financial Group LLC increased its stake in QUALCOMM by 14.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 12,785 shares of the wireless technology company's stock worth $1,964,000 after purchasing an additional 1,652 shares during the period. 74.35% of the stock is currently owned by institutional investors.

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QUALCOMM Stock Down 8.6 %

QCOM stock traded down $11.96 during midday trading on Friday, hitting $127.46. The company's stock had a trading volume of 19,007,907 shares, compared to its average volume of 8,683,142. The firm's 50-day moving average is $161.74 and its 200-day moving average is $163.13. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $126.68 and a 12 month high of $230.63. The company has a market cap of $140.97 billion, a PE ratio of 13.62, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.67%. QUALCOMM's dividend payout ratio is presently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several analyst reports. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective on the stock. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $205.32.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last ninety days. 0.08% of the stock is currently 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.