Intrust Bank NA Acquires 81 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Intrust Bank NA raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,296 shares of the wireless technology company’s stock after acquiring an additional 81 shares during the quarter. Intrust Bank NA’s holdings in QUALCOMM were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in QCOM. Brookstone Capital Management lifted its holdings in shares of QUALCOMM by 3.8% in the third quarter. Brookstone Capital Management now owns 30,966 shares of the wireless technology company’s stock worth $3,446,000 after buying an additional 1,143 shares in the last quarter. PDS Planning Inc grew its position in shares of QUALCOMM by 10.8% during the 3rd quarter. PDS Planning Inc now owns 3,341 shares of the wireless technology company’s stock valued at $371,000 after purchasing an additional 325 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of QUALCOMM by 0.4% in the third quarter. Commonwealth Equity Services LLC now owns 613,293 shares of the wireless technology company’s stock worth $68,112,000 after purchasing an additional 2,705 shares during the period. RMR Wealth Builders purchased a new stake in shares of QUALCOMM in the third quarter worth $519,000. Finally, Accurate Wealth Management LLC boosted its stake in QUALCOMM by 72.0% during the third quarter. Accurate Wealth Management LLC now owns 5,306 shares of the wireless technology company’s stock valued at $595,000 after buying an additional 2,222 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. KeyCorp upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Finally, Susquehanna increased their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. 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 three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 0.3 %

Shares of NASDAQ:QCOM traded down $0.58 on Tuesday, hitting $168.62. The company had a trading volume of 571,958 shares, compared to its average volume of 8,403,005. The firm’s 50-day simple moving average is $166.17 and its two-hundred day simple moving average is $145.34. The firm has a market capitalization of $188.18 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating 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 business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

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.