QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lifted by Private Trust Co. NA

Private Trust Co. NA raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,739 shares of the wireless technology company's stock after buying an additional 1,645 shares during the quarter. Private Trust Co. NA's holdings in QUALCOMM were worth $2,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LaFleur & Godfrey LLC increased its holdings in QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after buying an additional 300 shares during the last quarter. Brighton Jones LLC grew its position in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after purchasing an additional 340 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $26,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of QUALCOMM by 6.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 89,966 shares of the wireless technology company's stock valued at $13,821,000 after purchasing an additional 5,226 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 426,797 shares of company stock worth $8,672,710. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 1.8%

Shares of QCOM opened at $162.32 on Thursday. The stock's 50-day moving average price is $150.75 and its 200 day moving average price is $154.87. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $178.23 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were given a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research 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 given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $186.96.

QUALCOMM Company 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.

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