QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Dakota Community Bank & Trust NA

Dakota Community Bank & Trust NA lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% during the first quarter, Holdings Channel.com reports. The fund owned 1,704 shares of the wireless technology company’s stock after acquiring an additional 140 shares during the period. Dakota Community Bank & Trust NA’s holdings in QUALCOMM were worth $262,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QCOM. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC lifted its position in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Robert W. Baird cut their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $189.88.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $145.22 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The business’s 50 day moving average is $144.30 and its two-hundred day moving average is $155.59. The company has a market capitalization of $159.45 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.01 and a beta of 1.29.

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 fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock worth $8,418,305 over the last 90 days. 0.08% of the stock is currently owned by company 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.