Community Trust & Investment Co. Buys 273 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Community Trust & Investment Co. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,622 shares of the wireless technology company’s stock after purchasing an additional 273 shares during the quarter. Community Trust & Investment Co.’s holdings in QUALCOMM were worth $2,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pine Haven Investment Counsel Inc boosted its position in QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after buying an additional 50 shares during the last quarter. Buffington Mohr McNeal boosted its position in QUALCOMM by 3.9% in the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares in the last quarter. TRUE Private Wealth Advisors boosted its position in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after purchasing an additional 57 shares in the last quarter. Macroview Investment Management LLC boosted its position in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after purchasing an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. boosted its position in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on QCOM shares. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Finally, Barclays upped their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.92.

QUALCOMM Stock Up 2.5 %

Shares of NASDAQ:QCOM opened at $173.18 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $169.31 and a two-hundred day moving average of $182.26. The stock has a market cap of $192.92 billion, a P/E ratio of 22.43, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) 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 analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 44.04%.

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.