Legacy Private Trust Co. Acquires 7,614 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Private Trust Co. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 246.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,698 shares of the wireless technology company’s stock after buying an additional 7,614 shares during the quarter. Legacy Private Trust Co.’s holdings in QUALCOMM were worth $1,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Legal & General Group Plc grew its position in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares during the period. Matrix Capital Management Company LP bought a new stake in QUALCOMM during the 1st quarter valued at $1,171,516,000. Putnam Investments LLC raised its holdings in QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after buying an additional 263,482 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.4 %

QUALCOMM stock opened at $166.34 on Wednesday. The firm has a 50 day simple moving average of $167.77 and a 200 day simple moving average of $182.17. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market capitalization of $185.64 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 1.69 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on QCOM. JPMorgan Chase & Co. cut their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Rosenblatt Securities upped their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. Barclays upped their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.38.

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.