QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Kentucky Trust Co

Kentucky Trust Co lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the 1st quarter, HoldingsChannel reports. The fund owned 4,396 shares of the wireless technology company’s stock after selling 100 shares during the period. Kentucky Trust Co’s holdings in QUALCOMM were worth $675,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter worth approximately $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Evercore ISI cut their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Bank of America dropped their price target on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average price target of $190.28.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $153.63 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $147.30 and a 200-day simple moving average of $155.05. The company has a market cap of $168.69 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $225.90.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

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.