Patten & Patten Inc. TN Sells 3,516 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Patten & Patten Inc. TN lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth approximately $29,000. Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the third quarter worth approximately $39,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

QCOM traded up $0.85 during midday trading on Wednesday, hitting $157.14. 1,185,800 shares of the company traded hands, compared to its average volume of 8,206,680. The company's 50-day moving average is $164.56 and its 200 day moving average is $164.19. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The firm has a market capitalization of $173.80 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.16%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio is 36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on QCOM shares. Benchmark reiterated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. One investment 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 MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the firm'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 value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company's stock.

QUALCOMM 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.