Atlas Capital Advisors Inc. Sells 7,228 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Atlas Capital Advisors Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 79.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,814 shares of the wireless technology company's stock after selling 7,228 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in QUALCOMM were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Texas Capital Bank Wealth Management Services Inc raised its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,156 shares of the wireless technology company's stock worth $707,000 after buying an additional 2,104 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. Weaver Consulting Group purchased a new position in shares of QUALCOMM during the 3rd quarter worth approximately $203,000. Wahed Invest LLC raised its position in shares of QUALCOMM by 14.9% during the 3rd quarter. Wahed Invest LLC now owns 26,927 shares of the wireless technology company's stock worth $4,579,000 after purchasing an additional 3,489 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in QUALCOMM by 177.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 782,322 shares of the wireless technology company's stock valued at $133,034,000 after buying an additional 500,849 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on QCOM shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Up 2.4 %

Shares of QCOM traded up $3.06 during mid-day trading on Tuesday, reaching $132.78. The company's stock had a trading volume of 4,093,995 shares, compared to its average volume of 8,702,417. The business has a fifty day moving average of $160.91 and a 200 day moving average of $162.74. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a market cap of $146.86 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This trade represents a 2.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,749 shares of company stock valued at $4,920,347 in the last three months. Company insiders own 0.08% of the company's stock.

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.