QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 71,346 shares of the wireless technology company's stock after selling 3,516 shares during the period. Patten & Patten Inc. TN's holdings in QUALCOMM were worth $10,960,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter valued at $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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QUALCOMM Trading Down 1.1 %

NASDAQ:QCOM traded down $1.66 during mid-day trading on Tuesday, reaching $156.29. The company's stock had a trading volume of 6,672,534 shares, compared to its average volume of 8,230,313. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $172.86 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28. The company's fifty day simple moving average is $164.64 and its two-hundred day simple moving average is $164.32. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 in the last three months. 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.