Burke & Herbert Bank & Trust Co. Purchases 4,404 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Burke & Herbert Bank & Trust Co. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 170.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,995 shares of the wireless technology company’s stock after purchasing an additional 4,404 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in QUALCOMM were worth $1,393,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM in the fourth quarter worth about $32,000. Cherry Tree Wealth Management LLC raised its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. Finally, Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total transaction of $1,539,081.00. The disclosure for this sale can be found here. Insiders have sold 31,285 shares of company stock worth $5,871,215 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 4.0 %

Shares of QCOM traded up $6.58 during mid-day trading on Tuesday, reaching $169.47. The company had a trading volume of 10,668,024 shares, compared to its average volume of 9,424,060. The firm has a 50-day moving average price of $195.29 and a 200 day moving average price of $178.96. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market capitalization of $189.13 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given 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 2.01%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. TD Cowen raised their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. Argus lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

QUALCOMM Company 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.