Whittier Trust Co. Buys 795 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Whittier Trust Co. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 36,130 shares of the wireless technology company’s stock after acquiring an additional 795 shares during the period. Whittier Trust Co.’s holdings in QUALCOMM were worth $7,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. grew its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the fourth quarter valued at $32,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the second quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC grew its stake in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. JPMorgan Chase & Co. raised their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Tigress Financial increased their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Citigroup increased their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Stock Up 1.3 %

QUALCOMM stock traded up $2.17 during midday trading on Thursday, hitting $174.02. 4,920,861 shares of the stock were exchanged, compared to its average volume of 9,237,740. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a market cap of $194.21 billion, a P/E ratio of 23.55, a P/E/G ratio of 1.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a 50 day moving average price of $186.10 and a two-hundred day moving average price of $180.91.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

QUALCOMM Company 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.