Tufton Capital Management Sells 1,933 Shares of QUALCOMM Incorporated $QCOM

Tufton Capital Management trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,796 shares of the wireless technology company’s stock after selling 1,933 shares during the quarter. QUALCOMM makes up about 2.1% of Tufton Capital Management’s holdings, making the stock its 10th biggest position. Tufton Capital Management’s holdings in QUALCOMM were worth $10,956,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC increased its holdings in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 93 shares during the period. Chung Wu Investment Group LLC acquired a new position in QUALCOMM in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at $32,000. Atticus Wealth Management LLC increased its stake in QUALCOMM by 21,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 212 shares during the period. Finally, Abound Financial LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the transaction, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the transaction, the chief accounting officer directly owned 1,106 shares in the company, valued at approximately $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 163,169 shares of company stock valued at $26,978,998. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock opened at $180.72 on Tuesday. The stock has a market cap of $195.00 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $205.95. The firm’s 50 day moving average price is $166.34 and its two-hundred day moving average price is $157.13.

QUALCOMM Announces Dividend

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 given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s payout ratio is presently 34.33%.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Susquehanna increased their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Finally, Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the stock an “outperform” rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $183.95.

QUALCOMM 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.