Intrust Bank NA Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Intrust Bank NA lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,296 shares of the wireless technology company’s stock after buying an additional 81 shares during the quarter. Intrust Bank NA’s holdings in QUALCOMM were worth $1,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Peoples Bank OH purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $219,000. HF Advisory Group LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth $629,000. Bank Hapoalim BM increased its stake in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the period. NewEdge Wealth LLC raised its holdings in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in QUALCOMM by 24.2% in the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock worth $4,382,000 after acquiring an additional 7,682 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

QCOM stock traded down $0.58 during trading on Tuesday, hitting $168.62. 571,958 shares of the company traded hands, compared to its average volume of 8,403,005. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The stock’s 50-day simple moving average is $166.17 and its 200 day simple moving average is $145.34. The company has a market cap of $188.18 billion, a PE ratio of 24.52, a P/E/G ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 46.38%.

Insider Activity

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

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Mizuho boosted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Barclays increased their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Benchmark assumed coverage on QUALCOMM in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target for the company. Finally, Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

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.