Community Trust & Investment Co. Purchases 595 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Community Trust & Investment Co. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,463 shares of the wireless technology company’s stock after buying an additional 595 shares during the quarter. Community Trust & Investment Co.’s holdings in QUALCOMM were worth $2,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Sage Capital Advisors llc raised its holdings in shares of QUALCOMM by 0.6% in the 2nd quarter. Sage Capital Advisors llc now owns 52,215 shares of the wireless technology company’s stock worth $6,216,000 after acquiring an additional 334 shares during the last quarter. Covenant Asset Management LLC lifted its holdings in shares of QUALCOMM by 1.1% in the second quarter. Covenant Asset Management LLC now owns 46,642 shares of the wireless technology company’s stock valued at $5,552,000 after purchasing an additional 508 shares in the last quarter. Summit Financial Wealth Advisors LLC grew its position in QUALCOMM by 1.3% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 53,769 shares of the wireless technology company’s stock worth $6,401,000 after purchasing an additional 689 shares in the last quarter. Beacon Capital Management LLC increased its stake in QUALCOMM by 13.2% in the 2nd quarter. Beacon Capital Management LLC now owns 1,135 shares of the wireless technology company’s stock valued at $135,000 after buying an additional 132 shares during the last quarter. Finally, Roberts Wealth Advisors LLC boosted its stake in shares of QUALCOMM by 1.0% in the 2nd quarter. Roberts Wealth Advisors LLC now owns 32,004 shares of the wireless technology company’s stock worth $3,810,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 71.10% of the company’s stock.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at $639,246.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO James H. Thompson sold 27,962 shares of QUALCOMM stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the sale, the chief technology officer now directly owns 241,369 shares in the company, valued at $27,330,211.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the transaction, the insider now owns 5,745 shares in the company, valued at approximately $639,246.15. The disclosure for this sale can be found here. Insiders sold 29,962 shares of company stock worth $3,391,567 in the last 90 days. 0.07% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $2.06 on Tuesday, reaching $110.69. The company’s stock had a trading volume of 1,728,750 shares, compared to its average volume of 8,110,875. The company has a market cap of $121.76 billion, a P/E ratio of 14.76, a PEG ratio of 1.10 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $139.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42. The company has a 50-day simple moving average of $117.12 and a 200 day simple moving average of $116.90.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 6.41 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 31st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.89%. QUALCOMM’s payout ratio is 41.88%.

Analyst Ratings Changes

Several research analysts have weighed in on QCOM shares. Mizuho reissued a “buy” rating and issued a $140.00 price objective on shares of QUALCOMM in a research report on Wednesday, August 23rd. KeyCorp reissued an “overweight” rating and set a $145.00 price objective on shares of QUALCOMM in a report on Thursday, September 14th. Wolfe Research assumed coverage on shares of QUALCOMM in a research report on Wednesday, July 19th. They issued an “outperform” rating and a $145.00 price objective for the company. Wells Fargo & Company increased their price objective on QUALCOMM from $95.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 12th. Finally, Piper Sandler boosted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $141.96.

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, application processing, multimedia, and global positioning system products.