Trust Investment Advisors Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Trust Investment Advisors reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,779 shares of the wireless technology company’s stock after selling 226 shares during the quarter. QUALCOMM comprises about 1.4% of Trust Investment Advisors’ holdings, making the stock its 13th largest position. Trust Investment Advisors’ holdings in QUALCOMM were worth $2,147,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. City Holding Co. boosted its stake in shares of QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after buying an additional 199 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of QUALCOMM by 173.3% during the 2nd quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after purchasing an additional 534,176 shares during the period. BNP Paribas purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $3,104,000. SWP Financial LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $593,000. Finally, Horizon Investment Services LLC purchased a new stake in QUALCOMM during the first quarter worth about $3,832,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 3.3 %

Shares of QCOM stock opened at $173.92 on Friday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm’s 50-day simple moving average is $173.19 and its 200-day simple moving average is $182.00. The firm has a market cap of $194.09 billion, a P/E ratio of 23.38, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Dividend Announcement

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

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QCOM shares. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Mizuho lifted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

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.