Chevy Chase Trust Holdings LLC Has $89.52 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Chevy Chase Trust Holdings LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 582,764 shares of the wireless technology company's stock after selling 3,004 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of QUALCOMM worth $89,518,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of QCOM. LaFleur & Godfrey LLC grew its stake in QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after purchasing an additional 300 shares in the last quarter. Brighton Jones LLC grew its stake in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares in the last quarter. Forvis Mazars Wealth Advisors LLC grew its stake in QUALCOMM by 6.9% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 4,120 shares of the wireless technology company's stock valued at $633,000 after purchasing an additional 265 shares in the last quarter. Finally, MONECO Advisors LLC grew its stake in QUALCOMM by 11.5% in the fourth quarter. MONECO Advisors LLC now owns 4,328 shares of the wireless technology company's stock valued at $665,000 after purchasing an additional 445 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now owns 49,779 shares of the company's stock, valued at $7,272,711.90. This represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $153.14 on Tuesday. The stock has a market capitalization of $168.15 billion, a PE ratio of 15.59, a P/E/G ratio of 1.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The business has a fifty day moving average price of $147.82 and a two-hundred day moving average price of $154.83. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. QUALCOMM's revenue was up 17.0% on a year-over-year basis. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Bank of America decreased their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $186.96.

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.

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