Adirondack Trust Co. Has $1.62 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Adirondack Trust Co. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,267 shares of the wireless technology company’s stock after selling 401 shares during the quarter. Adirondack Trust Co.’s holdings in QUALCOMM were worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Peoples Bank OH bought a new stake in QUALCOMM in the fourth quarter worth $219,000. Bank Hapoalim BM boosted its holdings in QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. boosted its holdings in QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. bought a new stake in QUALCOMM in the fourth quarter worth $305,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QCOM. TD Cowen upped their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. UBS Group upped their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Morgan Stanley upped their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Bank of America increased their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Robert W. Baird increased their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.74.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock valued at $8,206,875. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $7.48 during mid-day trading on Tuesday, hitting $229.70. 8,558,606 shares of the stock were exchanged, compared to its average volume of 8,901,200. The company has a market cap of $256.35 billion, a P/E ratio of 30.87, a PEG ratio of 2.62 and a beta of 1.29. The stock’s fifty day simple moving average is $188.58 and its two-hundred day simple moving average is $164.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.42.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed 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. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.48%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.