838 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Cetera Trust Company N.A

Cetera Trust Company N.A purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 838 shares of the wireless technology company’s stock, valued at approximately $121,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. grew its stake in QUALCOMM by 36.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after buying an additional 42,500 shares during the last quarter. Peoples Bank OH acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $219,000. HF Advisory Group LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $629,000. Bank Hapoalim BM increased its holdings in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the period. Finally, NewEdge Wealth LLC increased its holdings in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Mizuho lifted their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Cantor Fitzgerald boosted their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Piper Sandler boosted their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Stock Up 1.6 %

Shares of NASDAQ:QCOM opened at $160.18 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The stock’s fifty day simple moving average is $165.01 and its 200-day simple moving average is $143.47. The company has a market capitalization of $178.76 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by insiders.

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.