Avalon Trust Co Has $49,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Avalon Trust Co lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 520.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 341 shares of the wireless technology company’s stock after acquiring an additional 286 shares during the quarter. Avalon Trust Co’s holdings in QUALCOMM were worth $49,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in QCOM. Peoples Bank OH acquired a new stake in shares of QUALCOMM in the fourth quarter worth $219,000. HF Advisory Group LLC bought a new stake in QUALCOMM during the third quarter valued at about $629,000. Bank Hapoalim BM grew its position in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the period. Finally, 1834 Investment Advisors Co. increased its stake in shares of QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Rosenblatt Securities boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Citigroup increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday. Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird lifted their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock valued at $7,429,728 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $0.46 during mid-day trading on Friday, hitting $179.64. 10,043,912 shares of the stock were exchanged, compared to its average volume of 8,171,053. The company has a market cap of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $183.19. The stock’s fifty day simple moving average is $167.69 and its two-hundred day simple moving average is $147.08.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio is 43.01%.

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.