Diversified Trust Co Acquires 15,350 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Diversified Trust Co raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,098 shares of the wireless technology company’s stock after purchasing an additional 15,350 shares during the period. Diversified Trust Co’s holdings in QUALCOMM were worth $11,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Peoples Bank OH bought a new stake in QUALCOMM in the 4th quarter valued at about $219,000. Bank Hapoalim BM lifted its holdings in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC raised its holdings in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the last quarter. 1834 Investment Advisors Co. raised its position in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after buying an additional 2,818 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. purchased a new position in QUALCOMM during the 4th quarter worth $305,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Insiders sold 37,185 shares of company stock valued at $6,860,715 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Wolfe Research lifted their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley lifted their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

QUALCOMM Price Performance

QCOM stock traded down $0.85 during mid-day trading on Monday, hitting $198.33. The company had a trading volume of 2,345,945 shares, compared to its average volume of 9,314,852. The company has a 50-day moving average price of $195.82 and a 200 day moving average price of $169.67. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market capitalization of $221.34 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 2.42 and a beta of 1.27. 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 (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for 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, research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s 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.