Toronto Dominion Bank Buys 294,501 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Toronto Dominion Bank raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 695,793 shares of the wireless technology company's stock after acquiring an additional 294,501 shares during the period. Toronto Dominion Bank owned approximately 0.06% of QUALCOMM worth $106,886,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new position in QUALCOMM during the fourth quarter valued at approximately $207,000. Empirical Asset Management LLC grew its stake in shares of QUALCOMM by 27.2% in the fourth quarter. Empirical Asset Management LLC now owns 18,470 shares of the wireless technology company's stock worth $2,837,000 after purchasing an additional 3,955 shares during the last quarter. Butensky & Cohen Financial Security Inc. grew its stake in shares of QUALCOMM by 4.4% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 28,713 shares of the wireless technology company's stock worth $4,411,000 after purchasing an additional 1,199 shares during the last quarter. Merit Financial Group LLC boosted its position in QUALCOMM by 40.4% during the fourth quarter. Merit Financial Group LLC now owns 22,889 shares of the wireless technology company's stock valued at $3,516,000 after acquiring an additional 6,591 shares during the last quarter. Finally, Sax Wealth Advisors LLC boosted its position in QUALCOMM by 43.7% during the fourth quarter. Sax Wealth Advisors LLC now owns 1,776 shares of the wireless technology company's stock valued at $273,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 0.1%

Shares of QCOM traded up $0.12 during mid-day trading on Tuesday, reaching $153.82. The company's stock had a trading volume of 5,265,290 shares, compared to its average volume of 8,904,832. The business has a fifty day moving average of $145.99 and a 200 day moving average of $156.70. The company has a market cap of $168.89 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared 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 is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.31%. QUALCOMM's dividend payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares of the company's stock, valued at $7,423,464.24. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock valued at $1,948,379 in the last quarter. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $192.08.

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.