Legacy Private Trust Co. Acquires 3,065 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Private Trust Co. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.4% in the first quarter, HoldingsChannel reports. The firm owned 13,493 shares of the wireless technology company’s stock after buying an additional 3,065 shares during the quarter. Legacy Private Trust Co.’s holdings in QUALCOMM were worth $2,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares during the period. Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $240,000. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $303,000. Finally, Amundi raised its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $148.34 on Friday. The stock has a market capitalization of $162.88 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm’s 50 day simple moving average is $144.60 and its 200-day simple moving average is $155.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm posted $2.44 EPS. The business’s revenue was up 17.0% on a year-over-year basis. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.40%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on QCOM shares. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Citigroup decreased their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $192.08.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 425,068 shares of company stock worth $8,418,305. Corporate insiders own 0.08% of the company’s stock.

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.