Patton Albertson Miller Group LLC Sells 85 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Patton Albertson Miller Group LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,903 shares of the wireless technology company’s stock after selling 85 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in QUALCOMM were worth $1,174,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Pine Haven Investment Counsel Inc grew its holdings in QUALCOMM by 2.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after purchasing an additional 50 shares during the last quarter. Buffington Mohr McNeal grew its stake in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after buying an additional 53 shares during the last quarter. TRUE Private Wealth Advisors raised its holdings in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after acquiring an additional 57 shares during the period. Macroview Investment Management LLC lifted its position in QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its holdings in QUALCOMM by 43.2% during the second 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. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Rosenblatt Securities increased their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.15.

Insider Buying and Selling

In other news, 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 sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on 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 owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,450 shares of company stock worth $2,911,306 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.3 %

Shares of QCOM stock opened at $158.82 on Tuesday. 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 company has a market capitalization of $176.45 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The firm has a 50-day moving average price of $167.67 and a 200 day moving average price of $181.44.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is currently 37.82%.

QUALCOMM Company 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.