QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 234.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,522 shares of the wireless technology company's stock after acquiring an additional 13,682 shares during the period. First Citizens Bank & Trust Co.'s holdings in QUALCOMM were worth $2,999,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in QCOM. Eagle Strategies LLC boosted its stake in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC boosted its stake in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares during the period. PDS Planning Inc increased its holdings in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the period. Finally, Cassady Schiller Wealth Management LLC raised its holdings in shares of QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on QCOM shares. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $189.88.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on 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. Insiders sold a total of 425,064 shares of company stock worth $8,381,948 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 2.4%

NASDAQ QCOM traded up $3.72 during trading hours on Tuesday, hitting $159.13. 9,027,981 shares of the company were exchanged, compared to its average volume of 8,743,035. The stock has a market cap of $174.72 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $143.64 and a 200 day moving average price of $155.11. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

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.