Equitable Trust Co. Sells 636 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Equitable Trust Co. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,742 shares of the wireless technology company’s stock after selling 636 shares during the period. Equitable Trust Co.’s holdings in QUALCOMM were worth $2,418,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Paulson Wealth Management Inc. lifted its position in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares during the last quarter. Blossom Wealth Management lifted its position in QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 64 shares during the last quarter. Delta Financial Advisors LLC lifted its position in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its position in QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Up 2.0 %

NASDAQ QCOM opened at $171.36 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The company has a market capitalization of $189.52 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company’s 50-day simple moving average is $162.15 and its two-hundred day simple moving average is $165.55. QUALCOMM Incorporated has a one year low of $148.41 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,268 shares of company stock valued at $7,276,381 in the last 90 days. Insiders own 0.08% of the company’s stock.

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.