Legacy Private Trust Co. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Private Trust Co. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,084 shares of the wireless technology company’s stock after buying an additional 332 shares during the period. Legacy Private Trust Co.’s holdings in QUALCOMM were worth $522,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Abacus Wealth Partners LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at approximately $271,000. Czech National Bank boosted its stake in shares of QUALCOMM by 0.7% during the first quarter. Czech National Bank now owns 196,361 shares of the wireless technology company’s stock valued at $33,244,000 after purchasing an additional 1,393 shares in the last quarter. Signal Advisors Wealth LLC purchased a new stake in QUALCOMM during the first quarter worth $612,000. Perpetual Ltd boosted its position in QUALCOMM by 2.1% during the 1st quarter. Perpetual Ltd now owns 287,667 shares of the wireless technology company’s stock valued at $48,702,000 after acquiring an additional 5,818 shares in the last quarter. Finally, Green Alpha Advisors LLC raised its position in shares of QUALCOMM by 6.4% in the 1st quarter. Green Alpha Advisors LLC now owns 18,976 shares of the wireless technology company’s stock worth $3,213,000 after acquiring an additional 1,149 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock traded down $3.46 during trading hours on Friday, hitting $212.01. 5,261,454 shares of the company’s stock were exchanged, compared to its average volume of 9,066,233. The firm has a 50 day moving average of $191.54 and a two-hundred day moving average of $166.34. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a market cap of $236.60 billion, a P/E ratio of 28.40, a P/E/G ratio of 2.77 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 45.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Barclays boosted their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen upped their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.74.

Get Our Latest Analysis on QCOM

About QUALCOMM

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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