Legacy Trust Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Trust grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,611 shares of the wireless technology company’s stock after acquiring an additional 347 shares during the period. QUALCOMM comprises about 1.5% of Legacy Trust’s investment portfolio, making the stock its 27th biggest holding. Legacy Trust’s holdings in QUALCOMM were worth $6,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the third quarter valued at $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM during the 3rd quarter worth $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Trading Up 0.1 %

Shares of QCOM stock opened at $171.71 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $159.76 and a 200 day simple moving average of $166.85. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The stock has a market capitalization of $190.77 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.14 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, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last three months. Company insiders own 0.08% of the company’s stock.

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.