Evergreen Wealth Management LLC Sells 3,339 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Evergreen Wealth Management LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 21.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,891 shares of the wireless technology company's stock after selling 3,339 shares during the period. Evergreen Wealth Management LLC's holdings in QUALCOMM were worth $2,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc lifted its stake in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company's stock valued at $410,000 after buying an additional 50 shares in the last quarter. Buffington Mohr McNeal raised its position in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company's stock valued at $279,000 after purchasing an additional 53 shares during the period. TRUE Private Wealth Advisors raised its position in QUALCOMM by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company's stock valued at $525,000 after purchasing an additional 57 shares during the period. Macroview Investment Management LLC raised its holdings in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company's stock valued at $119,000 after buying an additional 57 shares during the period. Finally, McClarren Financial Advisors Inc. raised its stake in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock valued at $40,000 after acquiring an additional 60 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QUALCOMM stock traded down $3.47 during trading hours on Friday, hitting $160.50. 9,737,033 shares of the company traded hands, compared to its average volume of 9,021,084. The firm has a market cap of $178.32 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.70 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $168.35 and its two-hundred day simple moving average is $182.10. QUALCOMM Incorporated has a 1-year low of $125.67 and a 1-year high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM's dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a report on Thursday, November 7th. Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $210.92.

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.