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

Tufton Capital Management decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,796 shares of the wireless technology company’s stock after selling 1,933 shares during the quarter. QUALCOMM comprises 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.6% in the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock worth $17,568,141,000 after acquiring an additional 638,284 shares during the period. Kingstone Capital Partners Texas LLC increased its stake in shares of QUALCOMM by 656,661.0% in the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock worth $9,360,274,000 after acquiring an additional 58,764,593 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of QUALCOMM by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,422,341 shares of the wireless technology company’s stock worth $1,600,976,000 after acquiring an additional 641,654 shares during the period. Invesco Ltd. increased its stake in shares of QUALCOMM by 2.2% in the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock worth $1,512,458,000 after acquiring an additional 215,900 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of QUALCOMM by 5.3% in the first quarter. Ameriprise Financial Inc. now owns 9,389,620 shares of the wireless technology company’s stock worth $1,441,847,000 after acquiring an additional 471,648 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group set a $165.00 price target on shares of QUALCOMM in a report on Monday, October 27th. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Citigroup increased their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.95.

QUALCOMM Price Performance

QUALCOMM stock opened at $180.72 on Tuesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95. The stock has a market cap of $195.00 billion, a P/E ratio of 17.43, a PEG ratio of 2.59 and a beta of 1.23. The company has a 50-day moving average price of $166.34 and a 200 day moving average price of $157.13. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s payout ratio is 34.33%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $161.42, for a total value of $44,067.66. Following the completion of the transaction, the chief accounting officer owned 404 shares in the company, valued at $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 8,335 shares of QUALCOMM stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer owned 36,541 shares of the company’s stock, valued at $6,067,998.46. This represents a 18.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 163,169 shares of company stock worth $26,978,998. 0.08% of the stock is currently owned by company insiders.

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.