QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,706 shares of the wireless technology company’s stock after purchasing an additional 504 shares during the quarter. Blue Trust Inc.’s holdings in QUALCOMM were worth $1,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC lifted its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,185 shares of company stock worth $7,936,005. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $1.94 on Friday, hitting $205.75. The company had a trading volume of 6,375,172 shares, compared to its average volume of 10,254,710. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The business has a 50 day moving average of $199.81 and a 200 day moving average of $171.39. The company has a market cap of $229.62 billion, a PE ratio of 27.65, a PEG ratio of 2.48 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on QCOM shares. Susquehanna raised their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. TD Cowen lifted their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Argus lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Robert W. Baird lifted their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.13.

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.