QUALCOMM Incorporated (QCOM) Shares Sold by Argent Trust Co
Argent Trust Co reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,067 shares of the wireless technology company’s stock after selling 3,356 shares during the period. Argent Trust Co’s holdings in QUALCOMM were worth $832,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. United Asset Strategies Inc. purchased a new position in QUALCOMM during the second quarter worth $5,249,000. Stifel Financial Corp increased its position in QUALCOMM by 47.4% during the first quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after buying an additional 943,026 shares in the last quarter. Private Asset Management Inc. increased its position in QUALCOMM by 0.5% during the second quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after buying an additional 4,028 shares in the last quarter. Pacer Advisors Inc. increased its position in QUALCOMM by 18.1% during the first quarter. Pacer Advisors Inc. now owns 67,369 shares of the wireless technology company’s stock worth $3,863,000 after buying an additional 10,336 shares in the last quarter. Finally, First Foundation Advisors increased its position in QUALCOMM by 0.6% during the first quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock worth $15,437,000 after buying an additional 1,503 shares in the last quarter. 76.85% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,837 shares of company stock worth $1,512,049. Corporate insiders own 0.24% of the company’s stock.
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Several research firms have weighed in on QCOM. Edward Jones downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS AG dropped their price target on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company downgraded QUALCOMM from an “outperform” rating to a “market perform” rating in a research report on Monday. Standpoint Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Vetr downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price target for the company. in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have given a buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and an average price target of $63.61.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.10 on Wednesday. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $70.24. The stock has a market capitalization of $94,130.00, a PE ratio of 16.35, a PEG ratio of 2.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. research analysts predict that QUALCOMM Incorporated will post 3.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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