Davidson Trust Co. Purchases 423 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Davidson Trust Co. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,562 shares of the wireless technology company’s stock after buying an additional 423 shares during the quarter. Davidson Trust Co.’s holdings in QUALCOMM were worth $804,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in QUALCOMM during the first quarter worth about $26,000. Legacy Financial Group LLC bought a new position in QUALCOMM during the third quarter worth about $29,000. Pacific Center for Financial Services bought a new position in QUALCOMM during the first quarter worth about $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in QUALCOMM during the first quarter worth about $32,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.8 %

QUALCOMM stock traded down $2.93 during midday trading on Friday, reaching $158.51. The stock had a trading volume of 2,430,676 shares, compared to its average volume of 8,532,177. The firm’s fifty day simple moving average is $164.74 and its 200-day simple moving average is $142.33. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The stock has a market capitalization of $176.90 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, analysts expect that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.14%. QUALCOMM’s payout ratio is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on QCOM shares. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, Cantor Fitzgerald raised their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $156.90.

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.