Montag A & Associates Inc. Sells 12,191 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Montag A & Associates Inc. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 32.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,087 shares of the wireless technology company’s stock after selling 12,191 shares during the period. Montag A & Associates Inc.’s holdings in QUALCOMM were worth $3,628,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. International Assets Investment Management LLC boosted its position in QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the period. Pacer Advisors Inc. lifted its position in shares of QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares during the period. Barclays PLC lifted its position in shares of QUALCOMM by 53.6% in the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares during the period. Invesco Ltd. lifted its position in shares of QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of QUALCOMM by 48.8% in the 4th quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock traded down $0.01 during midday trading on Thursday, reaching $180.54. The stock had a trading volume of 5,508,369 shares, compared to its average volume of 8,663,888. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $184.31. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $169.12 and its 200 day simple moving average is $148.31. The company has a market cap of $201.48 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. Argus raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays lifted their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target on the stock. Piper Sandler increased their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group increased their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $180.48.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 46,316 shares of company stock worth $7,796,128 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.