Vest Financial LLC Buys 61,632 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Vest Financial LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 56.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 171,406 shares of the wireless technology company’s stock after acquiring an additional 61,632 shares during the period. Vest Financial LLC’s holdings in QUALCOMM were worth $29,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares during the period. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM in the first quarter valued at about $1,171,516,000. Van ECK Associates Corp grew its stake in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of QUALCOMM by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,476,901 shares of the wireless technology company’s stock valued at $588,639,000 after acquiring an additional 26,187 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Down 0.1 %

Shares of QUALCOMM stock traded down $0.18 during trading on Friday, reaching $170.92. 6,432,721 shares of the company traded hands, compared to its average volume of 9,047,298. The firm has a market capitalization of $190.75 billion, a PE ratio of 22.97, a P/E/G ratio of 1.79 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a 50 day moving average price of $169.11 and a 200-day moving average price of $182.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

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, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. Susquehanna increased their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities increased their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.75.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s 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 sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 in the last ninety days. 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.