The trading activity of members of Congress continues to be closely followed by retail investors. A congresswoman made two large sales of a leading technology stock, trading near all-time highs. Here’s a look at the trades.
• Qualcomm stock is trading near recent highs. Where are QCOM shares going?
Congresswoman Sells Qualcomm Stock
Rep. Sara Jacobs (D-Calif.) disclosed selling Qualcomm Inc (NASDAQ:QCOM) stock in two transactions on May 20, according to data from Benzinga Government Trades page.
The transactions each totaled $500,000 to $1,000,000 in size, meaning the congresswoman sold somewhere between $1 million and $2 million in Qualcomm stock.
These mark the first disclosed trades by Jacobs since 2022 and her first stock transaction since July 2021.
Grandfather’s Qualcomm Ties
What makes this trading activity by Jacobs rather unique is her grandfather’s role with the company.
Irwin Jacobs, the congresswoman’s grandfather, is a co-founder and former chairman of Qualcomm.
The stock that was sold by the congresswoman belongs to a 1999 Trust.
According to data from Quiver Quantitative, Jacobs held millions of dollars in Qualcomm stock in at least one trust at the end of 2024. Jacobs is worth $92.3 million according to Quiver Quantitative.
Qualcomm Stock Price Action
Qualcomm stock trades at $213.41 on Thursday versus a 52-week trading range of $121.99 to $247.90. Qualcomm stock is up 23.4% year-to-date. The stock hit an all-time high earlier this month.
Photo: viewimage / Shutterstock
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