Cambridge Trust Co. Acquires 4,016 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Trust Co. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 59.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,735 shares of the wireless technology company’s stock after acquiring an additional 4,016 shares during the period. Cambridge Trust Co.’s holdings in QUALCOMM were worth $1,553,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. lifted 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 acquiring an additional 122 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $26,000. Legacy Financial Group LLC bought a new position in shares of QUALCOMM during the 3rd quarter valued at about $29,000. Pacific Center for Financial Services acquired a new position in shares of QUALCOMM in the 1st quarter valued at approximately $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in QUALCOMM during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now 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 SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM 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 directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $160.21 on Friday. 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 Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The stock has a market capitalization of $178.79 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The stock has a fifty day moving average of $164.74 and a 200-day moving average of $142.33.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.69 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. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

Analysts Set New Price Targets

A number of brokerages have weighed in on QCOM. Cantor Fitzgerald lifted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Piper Sandler increased their price objective on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Rosenblatt Securities raised their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price 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.