Capital City Trust Co. FL Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Capital City Trust Co. FL purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,194 shares of the wireless technology company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently bought and sold shares of the business. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth about $30,000. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the last quarter. Finally, Planning Capital Management Corp lifted its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Susquehanna lowered their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Rosenblatt Securities raised their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.92.

QUALCOMM Stock Down 2.1 %

Shares of QCOM stock opened at $160.50 on Monday. The company’s fifty day simple moving average is $168.35 and its two-hundred day simple moving average is $182.34. QUALCOMM Incorporated has a 52 week low of $125.67 and a 52 week high of $230.63. The stock has a market cap of $178.32 billion, a P/E ratio of 17.85, a PEG ratio of 2.70 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,146 shares of company stock worth $2,709,186. Corporate insiders own 0.08% of the company’s stock.

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.