QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by First National Trust Co

Key Points

• First National Trust Co increased its holdings in QUALCOMM by 129.4% to a total of approximately $7.48 million, owning 48,681 shares after purchasing 27,456 additional shares in Q1.
• QUALCOMM's CFO sold 3,333 shares for $537,546, reducing their ownership by 6.70%, amidst significant insider activity where 424,099 shares were sold in the last three months.
• Analysts set varying price targets for QUALCOMM, with forecasts ranging from $140.00 to $245.00, combining to an average target price of $183.95 as the stock maintains a "Hold" rating.

First National Trust Co lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 129.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,681 shares of the wireless technology company's stock after acquiring an additional 27,456 shares during the period. First National Trust Co's holdings in QUALCOMM were worth $7,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after buying an additional 105,631 shares during the period. PFG Advisors raised its holdings in shares of QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after buying an additional 321 shares during the period. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares during the period. Finally, Kanawha Capital Management LLC raised its holdings in shares of QUALCOMM by 1.9% in the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after buying an additional 1,573 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Up 1.0%

Shares of NASDAQ:QCOM traded up $1.43 during trading on Friday, hitting $148.19. The company's stock had a trading volume of 12,700,280 shares, compared to its average volume of 8,540,689. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The stock's 50-day moving average price is $155.05 and its two-hundred day moving average price is $155.00. The company has a market capitalization of $162.71 billion, a PE ratio of 14.29, a PEG ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.44% and a net margin of 26.77%. QUALCOMM's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 earnings per share. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio is 36.25%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an "outperform" rating in a report on Monday. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday. Finally, Piper Sandler decreased their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $181.91.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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. Over the last ninety days, insiders sold 424,099 shares of company stock valued at $8,324,591. 0.08% of the stock is currently owned by 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.