Wesbanco Bank Inc. Sells 588 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wesbanco Bank Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,502 shares of the wireless technology company’s stock after selling 588 shares during the quarter. Wesbanco Bank Inc.’s holdings in QUALCOMM were worth $2,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Grandview Asset Management LLC increased its holdings in shares of QUALCOMM by 2.3% in the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares in the last quarter. Cape Investment Advisory Inc. grew its position in shares of QUALCOMM by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 6,537 shares of the wireless technology company’s stock valued at $1,107,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. increased its stake in QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after purchasing an additional 63 shares in the last quarter. VERITY Wealth Advisors raised its holdings in QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after buying an additional 64 shares during the period. Finally, SlateStone Wealth LLC lifted its stake in QUALCOMM by 1.7% in the first quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $163.99 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $196.94 and its two-hundred day moving average price is $178.47. The company has a market cap of $182.68 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total value of $1,539,081.00. The disclosure for this sale can be found here. Insiders sold 31,285 shares of company stock valued at $5,871,215 in the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on QCOM shares. Citigroup increased their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Argus lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.