TIAA Trust National Association Decreases Stock Position in QUALCOMM Incorporated $QCOM

TIAA Trust National Association decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 69.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 46,840 shares of the wireless technology company’s stock after selling 106,201 shares during the period. TIAA Trust National Association’s holdings in QUALCOMM were worth $7,460,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. purchased a new position in QUALCOMM in the 2nd quarter worth $32,000. Finally, Atticus Wealth Management LLC lifted its position in QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 212 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on QCOM shares. Citigroup raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the stock an “outperform” rating in a research report on Monday, July 28th. Weiss Ratings upgraded shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Piper Sandler cut their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, UBS Group set a $165.00 target price on shares of QUALCOMM in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.95.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $180.90 on Monday. The company has a market capitalization of $195.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The company’s fifty day moving average price is $165.85 and its 200 day moving average price is $156.82. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio is presently 34.33%.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the sale, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $166.06, for a total value of $1,384,110.10. Following the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,169 shares of company stock valued at $26,978,998 over the last quarter. 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.