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

Key Points

• Argent Trust Co increased its stake in QUALCOMM by 2.4%, acquiring an additional 2,058 shares during the first quarter, raising its total holdings to 88,466 shares valued at approximately $13.6 million.
• QUALCOMM is set to pay a quarterly dividend of $0.89 on September 25th, resulting in an annualized dividend yield of 2.4%.
• QUALCOMM recently beat earnings estimates with $2.77 EPS and reported revenue of $10.37 billion, up 10.4% year-over-year.

Argent Trust Co boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 88,466 shares of the wireless technology company's stock after acquiring an additional 2,058 shares during the quarter. Argent Trust Co's holdings in QUALCOMM were worth $13,589,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. WFA Asset Management Corp purchased a new position in QUALCOMM in the 1st quarter valued at $27,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Sunbeam Capital Management LLC purchased a new position in QUALCOMM in the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $181.10.

QUALCOMM Trading Up 1.0%

Shares of QCOM stock opened at $148.19 on Friday. The business's fifty day moving average price is $155.11 and its 200 day moving average price is $154.86. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The firm has a market capitalization of $159.90 billion, a PE ratio of 14.29, a P/E/G ratio of 1.90 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results 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 company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed 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 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,324,591 in the last three months. 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.

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