QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,130 shares of the wireless technology company’s stock after buying an additional 795 shares during the quarter. Whittier Trust Co.’s holdings in QUALCOMM were worth $7,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new position in QUALCOMM in the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at $32,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.3 %

NASDAQ QCOM traded up $2.17 during mid-day trading on Thursday, reaching $174.02. 4,920,861 shares of the company’s stock traded hands, compared to its average volume of 9,237,740. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a fifty day simple moving average of $186.10 and a 200-day simple moving average of $180.91. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market cap of $194.21 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 1.89 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.98 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. 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. TD Cowen increased their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Tigress Financial raised their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.