Spinnaker Trust Buys 125 Shares of QUALCOMM Incorporated $QCOM

Spinnaker Trust grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,895 shares of the wireless technology company’s stock after buying an additional 125 shares during the period. Spinnaker Trust’s holdings in QUALCOMM were worth $620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in QCOM. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Chung Wu Investment Group LLC bought a new position in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Finally, Atticus Wealth Management LLC raised its holdings in shares of QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $161.42, for a total transaction of $44,067.66. Following the sale, the chief accounting officer owned 404 shares of the company’s stock, valued at approximately $65,213.68. The trade was a 40.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 166,502 shares of company stock valued at $27,472,615 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 0.8%

Shares of NASDAQ:QCOM opened at $177.26 on Friday. The stock’s 50-day moving average is $165.40 and its 200 day moving average is $156.26. The company has a market cap of $191.26 billion, a PE ratio of 17.09, a P/E/G ratio of 2.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company earned $2.33 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s payout ratio is 34.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on QCOM shares. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Weiss Ratings raised shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Citigroup lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday. Susquehanna boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.95.

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.