First Citizens Bank & Trust Co. Has $3 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First Citizens Bank & Trust Co. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 234.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,522 shares of the wireless technology company’s stock after purchasing an additional 13,682 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in QUALCOMM were worth $2,999,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at about $29,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter worth approximately $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM opened at $155.41 on Tuesday. The firm has a 50-day moving average price of $143.64 and a 200-day moving average price of $155.11. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $170.64 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 EPS. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.29%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 425,064 shares of company stock valued at $8,381,948 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $189.88.

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.