Global Trust Asset Management LLC Sells 551 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Global Trust Asset Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 75.4% in the first quarter, Holdings Channel reports. The fund owned 180 shares of the wireless technology company’s stock after selling 551 shares during the period. Global Trust Asset Management LLC’s holdings in QUALCOMM were worth $30,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter valued at $2,507,978,000. International Assets Investment Management LLC raised its holdings in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after buying an additional 1,090,504 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $200.84 on Tuesday. The stock’s 50-day simple moving average is $192.98 and its 200 day simple moving average is $167.91. The firm has a market capitalization of $224.14 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 over the last ninety days. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on QCOM. Tigress Financial lifted their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday. KeyCorp boosted 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. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Piper Sandler boosted their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $192.13.

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.