Legacy Private Trust Co. Buys 3,065 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Private Trust Co. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,493 shares of the wireless technology company's stock after purchasing an additional 3,065 shares during the quarter. Legacy Private Trust Co.'s holdings in QUALCOMM were worth $2,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Versant Capital Management Inc increased its stake in QUALCOMM by 223.6% in the 1st quarter. Versant Capital Management Inc now owns 5,543 shares of the wireless technology company's stock worth $851,000 after acquiring an additional 3,830 shares during the last quarter. Waller Financial Planning Group Inc. bought a new stake in QUALCOMM in the 1st quarter worth approximately $262,000. Kera Capital Partners Inc. increased its stake in QUALCOMM by 90.2% in the 1st quarter. Kera Capital Partners Inc. now owns 2,619 shares of the wireless technology company's stock worth $402,000 after acquiring an additional 1,242 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in QUALCOMM by 11.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 62,271 shares of the wireless technology company's stock worth $9,565,000 after acquiring an additional 6,239 shares during the last quarter. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the 4th quarter worth approximately $30,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QCOM. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $189.88.

QUALCOMM Trading Up 1.0%

QCOM traded up $1.43 during trading hours on Monday, reaching $146.63. 6,416,402 shares of the company's stock traded hands, compared to its average volume of 8,776,385. The firm has a 50-day moving average price of $144.06 and a 200 day moving average price of $155.43. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. 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 firm has a market capitalization of $161.00 billion, a PE ratio of 15.67, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. 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 business earned $2.44 EPS. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.43%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is currently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is currently owned by company insiders.

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.