Qualcomm Incorporated $QCOM Shares Bought by Diversified Trust Co

Key Points

• Diversified Trust Co. increased its Qualcomm stake by 72.1% in the third quarter, ending the period with 63,701 shares valued at about $11.7 million. Institutional investors and hedge funds collectively own 74.35% of the stock.
• Qualcomm slightly beat quarterly earnings and revenue estimates, reporting EPS of $2.17 and revenue of $10.44 billion, though revenue declined 8.4% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $197.13.
• Qualcomm declared a quarterly dividend of $0.92 per share, equivalent to an annualized yield of about 2.1%.

Diversified Trust Co lifted its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM - Free Report) by 72.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 63,701 shares of the wireless technology company's stock after buying an additional 26,679 shares during the quarter. Diversified Trust Co's holdings in Qualcomm were worth $11,723,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QCOM. JFS Wealth Advisors LLC grew its stake in Qualcomm by 3.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 1,595 shares of the wireless technology company's stock valued at $295,000 after buying an additional 53 shares during the last quarter. Canopy Partners LLC lifted its position in Qualcomm by 1.4% during the third quarter. Canopy Partners LLC now owns 4,148 shares of the wireless technology company's stock worth $763,000 after acquiring an additional 56 shares during the last quarter. Wall Street Financial Group Inc. boosted its holdings in shares of Qualcomm by 1.9% during the second quarter. Wall Street Financial Group Inc. now owns 3,050 shares of the wireless technology company's stock worth $564,000 after acquiring an additional 57 shares during the period. Sunbeam Capital Management LLC grew its position in shares of Qualcomm by 3.7% in the second quarter. Sunbeam Capital Management LLC now owns 1,637 shares of the wireless technology company's stock valued at $303,000 after purchasing an additional 58 shares during the last quarter. Finally, LaFleur & Godfrey LLC grew its position in shares of Qualcomm by 3.6% in the third quarter. LaFleur & Godfrey LLC now owns 1,656 shares of the wireless technology company's stock valued at $305,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QCOM shares. Piper Sandler reiterated a "neutral" rating on shares of Qualcomm in a research note on Thursday, November 5th. KeyCorp restated a "sector weight" rating on shares of Qualcomm in a research note on Wednesday, September 9th. JPMorgan Chase & Co. decreased their price objective on Qualcomm from $215.00 to $200.00 and set a "neutral" rating on the stock in a report on Thursday, November 5th. Arete Research raised Qualcomm to a "strong-buy" rating in a report on Friday, October 16th. Finally, Sanford C. Bernstein lowered their price objective on Qualcomm from $165.00 to $155.00 and set a "market perform" rating on the stock in a research report on Monday, November 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $197.13.

Qualcomm Stock Performance

NASDAQ QCOM opened at $172.47 on Friday. The firm has a 50-day moving average price of $178.73 and a two-hundred day moving average price of $169.99. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a market capitalization of $184.54 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.07 and a beta of 1.70. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42.

Qualcomm (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The company had revenue of $10.44 billion for the quarter, compared to analysts' expectations of $10.12 billion. During the same period last year, the firm earned $3.00 earnings per share. The business's revenue for the quarter was down 8.4% on a year-over-year basis. Analysts anticipate that Qualcomm Incorporated will post 6.75 earnings per share for the current year.

Qualcomm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. Qualcomm's dividend payout ratio is currently 28.98%.

Insider Buying and Selling at Qualcomm

In other news, EVP Ann C. Chaplin sold 1,501 shares of the company's stock in a transaction on Friday, November 6th. The stock was sold at an average price of $161.54, for a total transaction of $242,471.54. Following the completion of the sale, the executive vice president directly owned 27,271 shares in the company, valued at approximately $4,405,357.34. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $165.42, for a total value of $529,344.00. Following the sale, the executive vice president directly owned 39,379 shares in the company, valued at approximately $6,514,074.18. This trade represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,520 shares of company stock valued at $6,101,411 over the last ninety days. 0.05% of the stock is owned by corporate insiders.

Latest Qualcomm News

Investors following QCOM have been watching these news items:

• Neutral Sentiment: Qualcomm completed a $4 billion senior-notes offering. The financing provides capital but also represents debt that the company will need to service. Article: Qualcomm Completes $4 Billion Senior Notes Offering
• Negative Sentiment: Analyst commentary highlights falling earnings estimates, margin pressure, and significant investment needs. Qualcomm’s data-center growth plans also face customer-concentration and execution risks, making the targets uncertain. Article: Qualcomm's $5 Billion Data Center Ramp Puts Execution in Focus Now
• Negative Sentiment: Handset weakness and uncertainty around data-center growth have been cited as reasons for pressure on Qualcomm, despite its recent quarterly earnings beat. The SpaceX partnership also faces questions about the difficulty of competing with established mobile carriers. Article: Semiconductor ETFs to Buy as Qualcomm Plunges Despite Q4 Earnings Beat

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.

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