Patten Group Inc. lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 38.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,845 shares of the wireless technology company’s stock after selling 1,780 shares during the quarter. Patten Group Inc.’s holdings in QUALCOMM were worth $182,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Private Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $295,000. Raymond James Trust N.A. grew its stake in QUALCOMM by 1.0% in the fourth quarter. Raymond James Trust N.A. now owns 144,546 shares of the wireless technology company’s stock valued at $9,254,000 after acquiring an additional 1,476 shares during the period. Dowling & Yahnke LLC grew its stake in QUALCOMM by 0.7% in the fourth quarter. Dowling & Yahnke LLC now owns 163,525 shares of the wireless technology company’s stock valued at $10,469,000 after acquiring an additional 1,077 shares during the period. Public Employees Retirement Association of Colorado grew its stake in QUALCOMM by 6.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 279,660 shares of the wireless technology company’s stock valued at $17,904,000 after acquiring an additional 17,068 shares during the period. Finally, Greenwood Capital Associates LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $2,312,000. Institutional investors and hedge funds own 78.11% of the company’s stock.
Shares of QUALCOMM, Inc. (QCOM) opened at $59.70 on Wednesday. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28. The stock has a market capitalization of $88,380.00, a PE ratio of -24.37, a P/E/G ratio of 1.96 and a beta of 1.35. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.82%. QUALCOMM’s payout ratio is presently -93.06%.
A number of research firms have issued reports on QCOM. BidaskClub cut QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. KeyCorp boosted their target price on QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Northland Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of QUALCOMM in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.25.
In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the sale, the executive vice president now owns 11,116 shares in the company, valued at $714,981.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James H. Thompson sold 50,126 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the sale, the executive vice president now owns 136,482 shares in the company, valued at approximately $8,551,962.12. The disclosure for this sale can be found here. Insiders have sold 95,938 shares of company stock worth $6,137,671 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
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QUALCOMM Company Profile
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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