Legacy Private Trust Co. Trims Stock Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Legacy Private Trust Co. has reduced its holdings in QUALCOMM by 54.6%, now owning 6,132 shares valued at approximately $977,000.
• Multiple other hedge funds have also modified their stakes in QUALCOMM, with notable increases including Rise Advisors LLC by 6.7% and Bell Investment Advisors Inc. by 4.6%.
• QUALCOMM recently announced a quarterly dividend of $0.89 per share, representing an annualized rate of $3.56 and a dividend yield of 2.2%.

Legacy Private Trust Co. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 54.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,132 shares of the wireless technology company's stock after selling 7,361 shares during the period. Legacy Private Trust Co.'s holdings in QUALCOMM were worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in shares of QUALCOMM by 6.7% during the first quarter. Rise Advisors LLC now owns 1,048 shares of the wireless technology company's stock worth $161,000 after purchasing an additional 66 shares in the last quarter. Bell Investment Advisors Inc grew its stake in shares of QUALCOMM by 4.6% during the first quarter. Bell Investment Advisors Inc now owns 1,504 shares of the wireless technology company's stock worth $231,000 after purchasing an additional 66 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of QUALCOMM by 2.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after purchasing an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. grew its stake in shares of QUALCOMM by 5.1% during the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock worth $217,000 after purchasing an additional 69 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its stake in shares of QUALCOMM by 0.3% during the first quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QCOM. Mizuho lowered their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $182.82.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 791 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the sale, the chief accounting officer directly owned 1,106 shares of the company's stock, valued at approximately $171,230.92. This represents a 41.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,899 shares of company stock valued at $1,992,121 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $161.22 on Tuesday. The company has a 50-day simple moving average of $156.46 and a 200-day simple moving average of $152.04. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The stock has a market capitalization of $173.96 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 2.35 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the company earned $2.33 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm 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 $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 34.33%.

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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