Blue Trust Inc. Acquires 504 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Trust Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the first quarter, Holdings Channel reports. The fund owned 7,706 shares of the wireless technology company’s stock after purchasing an additional 504 shares during the period. Blue Trust Inc.’s holdings in QUALCOMM were worth $1,305,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. KPP Advisory Services LLC bought a new position in QUALCOMM in the 3rd quarter valued at $218,000. JT Stratford LLC boosted its position in shares of QUALCOMM by 6.7% in the 3rd quarter. JT Stratford LLC now owns 2,814 shares of the wireless technology company’s stock worth $313,000 after purchasing an additional 176 shares during the last quarter. Rainsberger Wealth Advisors Inc. boosted its position in shares of QUALCOMM by 1.6% in the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 15,408 shares of the wireless technology company’s stock worth $1,711,000 after purchasing an additional 245 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of QUALCOMM by 3.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 433,933 shares of the wireless technology company’s stock worth $48,190,000 after purchasing an additional 13,388 shares during the last quarter. Finally, Cito Capital Group LLC boosted its position in shares of QUALCOMM by 5.6% in the 3rd quarter. Cito Capital Group LLC now owns 5,700 shares of the wireless technology company’s stock worth $633,000 after purchasing an additional 300 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The disclosure for this sale can be found here. Insiders sold 42,185 shares of company stock worth $7,936,005 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.0 %

Shares of NASDAQ QCOM traded up $1.94 during mid-day trading on Friday, hitting $205.75. The company had a trading volume of 6,375,172 shares, compared to its average volume of 10,254,710. The company has a market capitalization of $229.62 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 2.48 and a beta of 1.27. The firm has a 50-day simple moving average of $199.81 and a two-hundred day simple moving average of $171.39. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.65%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. HSBC raised their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler raised their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, UBS Group raised their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM 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.