Global Trust Asset Management LLC lessened its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,347 shares of the wireless technology company’s stock after selling 286 shares during the period. Global Trust Asset Management LLC’s holdings in QUALCOMM were worth $247,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in QCOM. Cornerstone Investment Partners LLC boosted its holdings in QUALCOMM by 16.0% in the fourth quarter. Cornerstone Investment Partners LLC now owns 40,389 shares of the wireless technology company’s stock valued at $2,299,000 after acquiring an additional 5,585 shares during the last quarter. Cullinan Associates Inc. boosted its holdings in QUALCOMM by 5.4% in the fourth quarter. Cullinan Associates Inc. now owns 123,585 shares of the wireless technology company’s stock valued at $7,033,000 after acquiring an additional 6,350 shares during the last quarter. Woodstock Corp boosted its holdings in QUALCOMM by 1.0% in the fourth quarter. Woodstock Corp now owns 92,179 shares of the wireless technology company’s stock valued at $5,246,000 after acquiring an additional 875 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in QUALCOMM by 0.6% in the fourth quarter. Moody National Bank Trust Division now owns 93,198 shares of the wireless technology company’s stock valued at $5,304,000 after acquiring an additional 588 shares during the last quarter. Finally, Park National Corp OH boosted its holdings in QUALCOMM by 2.7% in the fourth quarter. Park National Corp OH now owns 10,256 shares of the wireless technology company’s stock valued at $584,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 89.58% of the company’s stock.
NASDAQ QCOM opened at $57.50 on Friday. The stock has a market cap of $68.62 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.73 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.40 and a debt-to-equity ratio of 16.56. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 20th. Investors of record on Thursday, December 6th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, December 5th. QUALCOMM’s dividend payout ratio is presently 77.74%.
Several research firms recently issued reports on QCOM. BidaskClub cut QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Canaccord Genuity decreased their price target on QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. Morgan Stanley upgraded QUALCOMM from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 15th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Finally, Zacks Investment Research lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $70.44.
In related news, EVP Donald J. Rosenberg sold 9,048 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $58.01, for a total value of $524,874.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $63.50, for a total value of $54,165.50. Following the completion of the sale, the executive vice president now directly owns 4,344 shares in the company, valued at approximately $275,844. The disclosure for this sale can be found here. In the last three months, insiders sold 34,521 shares of company stock worth $2,030,355. 0.24% of the stock is owned by insiders.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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