Sabal Trust CO Buys 65 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sabal Trust CO increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,960 shares of the wireless technology company’s stock after acquiring an additional 65 shares during the quarter. Sabal Trust CO’s holdings in QUALCOMM were worth $789,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of QUALCOMM by 8.1% during the 4th 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 purchasing an additional 1,909,025 shares in the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the 1st quarter valued at about $1,171,516,000. Putnam Investments LLC grew its holdings in shares of 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 purchasing an additional 263,482 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of QUALCOMM by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock worth $913,752,000 after purchasing an additional 259,403 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Trading Up 3.4 %

NASDAQ QCOM opened at $175.30 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The stock has a market cap of $195.28 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.93 and a beta of 1.27. The stock has a 50 day simple moving average of $183.33 and a two-hundred day simple moving average of $180.93.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared 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. This represents a $3.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.