QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Trust Investment Advisors

Trust Investment Advisors cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,779 shares of the wireless technology company’s stock after selling 226 shares during the period. QUALCOMM comprises about 1.4% of Trust Investment Advisors’ investment portfolio, making the stock its 13th biggest holding. Trust Investment Advisors’ holdings in QUALCOMM were worth $2,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Matrix Capital Management Company LP purchased a new stake in QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Massachusetts Financial Services Co. MA grew its position in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp raised its holdings in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in QUALCOMM during the 1st quarter valued at $238,770,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. KeyCorp upped their price target on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.67.

Insider Transactions at QUALCOMM

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

QUALCOMM Price Performance

NASDAQ QCOM opened at $173.92 on Friday. The company’s 50 day simple moving average is $173.19 and its 200 day simple moving average is $182.00. 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 firm has a market capitalization of $194.09 billion, a PE ratio of 23.38, a P/E/G ratio of 1.81 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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

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.