First National Trust Co Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First National Trust Co lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 84.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,225 shares of the wireless technology company's stock after acquiring an additional 9,699 shares during the quarter. First National Trust Co's holdings in QUALCOMM were worth $3,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. State Street Corp boosted its stake in QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the period. Geode Capital Management LLC raised its holdings in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. Amundi raised its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after acquiring an additional 193,236 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after acquiring an additional 498,284 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

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QUALCOMM Stock Performance

NASDAQ:QCOM traded up $4.64 during mid-day trading on Friday, hitting $156.58. 5,306,194 shares of the company traded hands, compared to its average volume of 8,248,235. The stock's fifty day moving average price is $164.68 and its 200-day moving average price is $164.40. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $173.18 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Finally, Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, 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 sold a total of 30,555 shares of company stock valued at $5,094,134 over the last 90 days. Company 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.