Private Trust Co. NA Has $2.32 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Private Trust Co. NA boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the fourth quarter, Holdings Channel reports. The firm owned 15,094 shares of the wireless technology company’s stock after purchasing an additional 418 shares during the period. Private Trust Co. NA’s holdings in QUALCOMM were worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. raised its position in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Van ECK Associates Corp raised its position in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after acquiring an additional 1,380,500 shares during the period. Finally, State Street Corp grew its holdings in QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Down 4.7 %

NASDAQ:QCOM opened at $154.44 on Friday. The stock has a market capitalization of $170.81 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company’s 50-day simple moving average is $164.85 and its 200-day simple moving average is $165.68.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,708 shares of company stock valued at $7,713,734. Company insiders own 0.08% of the company’s stock.

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.