Sanibel Captiva Trust Company Inc. Buys 33,652 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sanibel Captiva Trust Company Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 135.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 58,495 shares of the wireless technology company's stock after purchasing an additional 33,652 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in QUALCOMM were worth $8,986,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of QCOM. State Street Corp boosted its holdings in QUALCOMM by 1.7% in the third 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 boosted 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 buying an additional 1,989,725 shares during the period. Legal & General Group Plc grew its position in shares of QUALCOMM by 0.9% during the 2nd 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 buying an additional 86,195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in QUALCOMM by 6.3% during the third 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 worth $1,421,037,000 after acquiring an additional 498,284 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They set a "hold" rating and a $180.00 price objective for the company. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, October 2nd. Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $206.57.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company's stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM traded up $3.13 during mid-day trading on Friday, hitting $164.56. The company's stock had a trading volume of 8,063,912 shares, compared to its average volume of 6,526,932. The stock has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The firm has a 50-day moving average price of $158.85 and a 200 day moving average price of $169.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM's dividend payout ratio is 37.82%.

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.