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

Patten & Patten Inc. TN trimmed its position 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 & Exchange Commission. 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 as of its most recent SEC filing.

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

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ:QCOM traded up $1.37 during midday trading on Monday, hitting $157.95. 5,780,967 shares of the stock were exchanged, compared to its average volume of 8,215,244. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The business's fifty day simple moving average is $164.64 and its two-hundred day simple moving average is $164.32. The company has a market capitalization of $174.69 billion, a PE ratio of 16.88, a P/E/G ratio of 2.01 and a beta of 1.28.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $205.32.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business's stock in a transaction 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 sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company's stock.

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.