QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by First National Trust Co

First National Trust Co reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,388 shares of the wireless technology company’s stock after selling 448 shares during the period. First National Trust Co’s holdings in QUALCOMM were worth $1,647,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM during the 4th quarter worth approximately $32,000. Financial Gravity Asset Management Inc. increased its position in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $35,000. Cranbrook Wealth Management LLC increased its position in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $40,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.46 during mid-day trading on Friday, hitting $179.64. The stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $183.19. The firm has a market cap of $200.48 billion, a PE ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The company’s 50-day simple moving average is $167.69 and its 200-day simple moving average is $146.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,260 shares of company stock worth $7,429,728. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. Citigroup increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a research report on Friday. HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley increased their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

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.