Blue Trust Inc. Has $2.41 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Trust Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 33.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,197 shares of the wireless technology company’s stock after purchasing an additional 3,585 shares during the period. Blue Trust Inc.’s holdings in QUALCOMM were worth $2,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Moss Adams Wealth Advisors LLC boosted its stake in shares of QUALCOMM by 6.6% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,657 shares of the wireless technology company’s stock valued at $622,000 after purchasing an additional 226 shares in the last quarter. Accurate Wealth Management LLC increased its holdings in shares of QUALCOMM by 12.4% during the third quarter. Accurate Wealth Management LLC now owns 8,009 shares of the wireless technology company’s stock worth $1,394,000 after buying an additional 885 shares in the last quarter. Net Worth Advisory Group acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at $755,000. Precedent Wealth Partners LLC grew its position in QUALCOMM by 11.5% during the 3rd quarter. Precedent Wealth Partners LLC now owns 8,142 shares of the wireless technology company’s stock worth $1,385,000 after acquiring an additional 841 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in QUALCOMM by 11.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 118,592 shares of the wireless technology company’s stock worth $20,167,000 after purchasing an additional 12,444 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QCOM shares. Wells Fargo & Company increased their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Robert W. Baird boosted their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.75.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock worth $3,679,407 in the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 0.1 %

NASDAQ QCOM opened at $170.92 on Friday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. 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 stock has a market cap of $190.75 billion, a PE ratio of 22.97, a P/E/G ratio of 1.79 and a beta of 1.28. The stock’s 50 day moving average is $169.11 and its 200 day moving average is $182.19.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Research analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is presently 45.70%.

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.