Massmutual Trust Co. FSB ADV Sells 6,256 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Massmutual Trust Co. FSB ADV reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 22.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,846 shares of the wireless technology company's stock after selling 6,256 shares during the quarter. Massmutual Trust Co. FSB ADV's holdings in QUALCOMM were worth $4,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock worth $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC increased its position in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company's stock valued at $34,000 after buying an additional 115 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its holdings in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company's stock worth $36,000 after buying an additional 100 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company's stock, valued at $36,912,913.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now owns 54 shares of the company's stock, valued at $9,802.08. The disclosure for this sale can be found here. In the last three months, insiders sold 43,129 shares of company stock valued at $8,014,436. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.9 %

QUALCOMM stock traded down $1.36 during trading on Monday, reaching $157.95. The stock had a trading volume of 12,711,324 shares, compared to its average volume of 9,451,461. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The business has a 50 day moving average price of $200.91 and a 200 day moving average price of $178.59. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market cap of $175.96 billion, a PE ratio of 21.13, a P/E/G ratio of 1.99 and a beta of 1.27.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is currently 45.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QCOM shares. Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a "positive" rating in a research report on Wednesday, July 17th. Tigress Financial upped their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, June 21st. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday. Finally, Westpark Capital restated a "hold" rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and an average target price of $210.63.

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.

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