Private Trust Co. NA Has $2.66 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Private Trust Co. NA increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,700 shares of the wireless technology company’s stock after buying an additional 321 shares during the period. Private Trust Co. NA’s holdings in QUALCOMM were worth $2,658,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Peoples Bank OH bought a new position in QUALCOMM during the 4th quarter worth approximately $219,000. Bank Hapoalim BM increased its stake in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC increased its stake in QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. increased its stake in QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after purchasing an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. purchased a new position in QUALCOMM during the 4th quarter worth $305,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QCOM. HSBC boosted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Canaccord Genuity Group upped their price target on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Argus upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Bank of America upped their target price on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Stock Down 0.6 %

QCOM traded down $1.17 during trading on Thursday, reaching $201.76. The stock had a trading volume of 14,470,663 shares, compared to its average volume of 8,688,804. The stock’s 50 day moving average is $174.64 and its two-hundred day moving average is $154.38. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $225.16 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.48 and a beta of 1.33. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $207.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, analysts expect that QUALCOMM Incorporated will post 7.81 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 689 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. Insiders sold 70,074 shares of company stock worth $12,258,386 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.