Private Trust Co. NA Purchases 235 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Private Trust Co. NA boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,676 shares of the wireless technology company’s stock after buying an additional 235 shares during the period. Private Trust Co. NA’s holdings in QUALCOMM were worth $2,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. grew its holdings in QUALCOMM by 13.2% during the 1st quarter. 1832 Asset Management L.P. now owns 14,862 shares of the wireless technology company’s stock worth $2,516,000 after acquiring an additional 1,729 shares in the last quarter. Paloma Partners Management Co bought a new position in QUALCOMM in the first quarter worth about $208,000. Silvercrest Asset Management Group LLC increased its position in shares of QUALCOMM by 28.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 44,512 shares of the wireless technology company’s stock worth $7,536,000 after purchasing an additional 9,913 shares in the last quarter. Waverly Advisors LLC boosted its position in shares of QUALCOMM by 209.4% in the 1st quarter. Waverly Advisors LLC now owns 25,116 shares of the wireless technology company’s stock worth $4,252,000 after purchasing an additional 16,998 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in QUALCOMM by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,479,809 shares of the wireless technology company’s stock valued at $250,488,000 after buying an additional 33,974 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated 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 of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,450 shares of company stock valued at $2,911,306 over the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QCOM. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $158.99 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a 50 day simple moving average of $167.82 and a two-hundred day simple moving average of $181.59. The stock has a market capitalization of $176.64 billion, a P/E ratio of 17.44, a PEG ratio of 2.64 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $125.67 and a 12 month high of $230.63.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.14%. QUALCOMM’s payout ratio is currently 37.82%.

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.