QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by Truist Financial Corp

Truist Financial Corp raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,043,494 shares of the wireless technology company's stock after purchasing an additional 12,502 shares during the quarter. Truist Financial Corp owned 0.09% of QUALCOMM worth $160,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Strategies LLC raised its holdings in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares during the last quarter. PDS Planning Inc lifted its position in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares during the period. Cassady Schiller Wealth Management LLC boosted its stake in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares during the last quarter. Finally, Umpqua Bank boosted its stake in QUALCOMM by 4.2% in the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock worth $264,000 after buying an additional 67 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 0.9%

NASDAQ QCOM traded up $1.36 during trading hours on Tuesday, hitting $159.45. The company had a trading volume of 6,874,128 shares, compared to its average volume of 8,541,280. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The company has a market capitalization of $175.08 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The firm's 50 day moving average is $151.78 and its 200 day moving average is $155.04.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal 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 paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.23%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. Wells Fargo & Company cut their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Citigroup increased their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. Susquehanna lowered their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $188.00.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,747 shares of company stock worth $8,402,174 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM 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.