Eagle Asset Management Inc. Sells 14,284 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Eagle Asset Management Inc. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,962 shares of the wireless technology company’s stock after selling 14,284 shares during the quarter. Eagle Asset Management Inc.’s holdings in QUALCOMM were worth $8,710,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the third quarter valued at $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the 2nd quarter worth about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter worth about $32,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Aspect Partners LLC raised its position in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on QCOM shares. Wells Fargo & Company lifted 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. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Friday, August 2nd. Rosenblatt Securities lifted their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock opened at $156.79 on Monday. The company has a market cap of $174.19 billion, a PE ratio of 17.44, a PEG ratio of 2.61 and a beta of 1.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 1 year low of $125.67 and a 1 year high of $230.63. The company’s 50-day moving average is $167.82 and its two-hundred day moving average is $181.59.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s payout ratio is presently 37.82%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. Company 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.