Community Trust & Investment Co. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,463 shares of the wireless technology company’s stock after buying an additional 595 shares during the period. Community Trust & Investment Co.’s holdings in QUALCOMM were worth $2,793,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Sage Capital Advisors llc lifted its stake in QUALCOMM by 0.6% in the second quarter. Sage Capital Advisors llc now owns 52,215 shares of the wireless technology company’s stock valued at $6,216,000 after buying an additional 334 shares during the last quarter. Covenant Asset Management LLC grew its position in QUALCOMM by 1.1% in the second quarter. Covenant Asset Management LLC now owns 46,642 shares of the wireless technology company’s stock worth $5,552,000 after buying an additional 508 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its holdings in shares of QUALCOMM by 1.3% in the second quarter. Summit Financial Wealth Advisors LLC now owns 53,769 shares of the wireless technology company’s stock valued at $6,401,000 after buying an additional 689 shares in the last quarter. Beacon Capital Management LLC lifted its position in shares of QUALCOMM by 13.2% during the 2nd quarter. Beacon Capital Management LLC now owns 1,135 shares of the wireless technology company’s stock valued at $135,000 after acquiring an additional 132 shares during the last quarter. Finally, Roberts Wealth Advisors LLC raised its position in shares of QUALCOMM by 1.0% during the second quarter. Roberts Wealth Advisors LLC now owns 32,004 shares of the wireless technology company’s stock worth $3,810,000 after purchasing an additional 325 shares during the period. 71.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on QCOM. Mizuho reiterated a “buy” rating and issued a $140.00 price objective on shares of QUALCOMM in a research note on Wednesday, August 23rd. StockNews.com lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday. Rosenblatt Securities restated a “buy” rating and set a $145.00 price target on shares of QUALCOMM in a research report on Thursday, September 14th. Bank of America upped their price objective on QUALCOMM from $130.00 to $145.00 in a report on Friday, June 16th. Finally, Wells Fargo & Company lifted their target price on QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.96.
QUALCOMM Stock Down 1.8 %
Shares of QCOM traded down $2.06 during trading hours on Tuesday, hitting $110.69. The company had a trading volume of 1,728,750 shares, compared to its average volume of 8,110,875. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $121.76 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94. The company’s fifty day moving average price is $117.12 and its two-hundred day moving average price is $116.90.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.51 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 6.41 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 31st will be issued a $0.80 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 dividend on an annualized basis and a yield of 2.89%. QUALCOMM’s payout ratio is 41.88%.
Insider Buying and Selling at QUALCOMM
In related news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now directly owns 5,745 shares in the company, valued at $639,246.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the sale, the insider now owns 5,745 shares in the company, valued at approximately $639,246.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 27,962 shares of QUALCOMM stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total value of $3,166,137.26. Following the completion of the transaction, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at $27,330,211.87. The disclosure for this sale can be found here. Insiders have sold a total of 29,962 shares of company stock valued at $3,391,567 over the last ninety days. Corporate insiders own 0.07% 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, application processing, multimedia, and global positioning system products.
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