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

Patten & Patten Inc. TN reduced its holdings in shares of 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. The firm 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 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $38,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on 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 approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 in the last quarter. Insiders own 0.08% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Finally, Mizuho dropped their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.31 during trading hours on Thursday, hitting $157.95. 5,085,118 shares of the company were exchanged, compared to its average volume of 8,214,134. The firm has a fifty day simple moving average of $164.54 and a 200 day simple moving average of $164.15. 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 52-week low of $149.43 and a 52-week high of $230.63. The stock has a market capitalization of $174.69 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly 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%. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM's payout ratio is currently 36.32%.

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.