Avalon Trust Co Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Avalon Trust Co lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 520.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341 shares of the wireless technology company’s stock after purchasing an additional 286 shares during the period. Avalon Trust Co’s holdings in QUALCOMM were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. raised its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $32,000. Fortitude Family Office LLC acquired a new position in QUALCOMM in the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC lifted its holdings in QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 163,963 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Canaccord Genuity Group raised their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their price target on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley lifted their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research upped their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Finally, UBS Group lifted their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $179.36.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock valued at $7,429,728 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of QCOM traded down $0.46 during mid-day trading on Friday, hitting $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The company has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33. The stock’s 50-day moving average is $167.69 and its 200-day moving average is $147.08. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $183.19.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 43.01%.

About QUALCOMM

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.