Blue Trust Inc. Buys 4,464 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Trust Inc. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,661 shares of the wireless technology company’s stock after buying an additional 4,464 shares during the quarter. Blue Trust Inc.’s holdings in QUALCOMM were worth $3,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kingswood Wealth Advisors LLC grew its stake in shares of QUALCOMM by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,467 shares of the wireless technology company’s stock worth $4,220,000 after buying an additional 819 shares during the last quarter. PFG Investments LLC grew its stake in shares of QUALCOMM by 0.9% in the fourth quarter. PFG Investments LLC now owns 20,923 shares of the wireless technology company’s stock worth $3,214,000 after purchasing an additional 184 shares during the last quarter. Granite Group Advisors LLC grew its stake in shares of QUALCOMM by 3.8% in the fourth quarter. Granite Group Advisors LLC now owns 14,211 shares of the wireless technology company’s stock worth $2,183,000 after purchasing an additional 524 shares during the last quarter. Tennessee Valley Asset Management Partners grew its stake in shares of QUALCOMM by 2.0% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 10,551 shares of the wireless technology company’s stock worth $1,621,000 after purchasing an additional 208 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of QUALCOMM by 1.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,597 shares of the wireless technology company’s stock worth $1,474,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Susquehanna reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Down 1.3 %

QCOM opened at $172.11 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The firm has a market capitalization of $191.21 billion, a PE ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25. The company’s 50-day moving average is $159.49 and its 200 day moving average is $167.56.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

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.