Cambridge Trust Co. Purchases 4,016 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Trust Co. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 59.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,735 shares of the wireless technology company’s stock after purchasing an additional 4,016 shares during the quarter. Cambridge Trust Co.’s holdings in QUALCOMM were worth $1,553,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM in the first quarter worth about $26,000. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $29,000. Pacific Center for Financial Services purchased a new stake in QUALCOMM during the 1st quarter valued at about $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in QUALCOMM during the 1st quarter worth approximately $32,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.8 %

QCOM stock opened at $160.21 on Friday. The company has a market cap of $178.79 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The business’s 50-day moving average is $164.74 and its two-hundred day moving average is $142.33. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Analyst Ratings Changes

A number of analysts have recently weighed in on QCOM shares. Piper Sandler increased their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Susquehanna boosted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.90.

QUALCOMM 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.