New Covenant Trust Company N.A. Invests $134,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

New Covenant Trust Company N.A. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 791 shares of the wireless technology company’s stock, valued at approximately $134,000.

A number of other hedge funds also recently modified their holdings of QCOM. Mayflower Financial Advisors LLC bought a new position in QUALCOMM during the fourth quarter worth about $247,000. Glass Jacobson Investment Advisors llc increased its position in QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares during the period. Veracity Capital LLC increased its holdings in QUALCOMM by 3.9% in the 4th quarter. Veracity Capital LLC now owns 2,600 shares of the wireless technology company’s stock valued at $376,000 after buying an additional 97 shares during the period. Osborne Partners Capital Management LLC bought a new position in QUALCOMM in the 4th quarter valued at about $206,000. Finally, Country Club Bank GFN increased its holdings in QUALCOMM by 1.2% in the 4th quarter. Country Club Bank GFN now owns 6,972 shares of the wireless technology company’s stock valued at $1,017,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on QCOM shares. Rosenblatt Securities raised their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Bank of America raised their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Argus raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.71.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,552,835 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 9.4 %

Shares of QCOM traded down $16.95 during mid-day trading on Thursday, reaching $164.00. 24,780,721 shares of the company were exchanged, compared to its average volume of 9,381,527. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market capitalization of $183.02 billion, a PE ratio of 22.04, a PEG ratio of 2.03 and a beta of 1.27. The business has a 50 day simple moving average of $201.93 and a two-hundred day simple moving average of $177.92.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping 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 business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, analysts predict that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.