Trust Co. of Toledo NA OH Has $7.27 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Trust Co. of Toledo NA OH reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 47,342 shares of the wireless technology company’s stock after selling 255 shares during the quarter. QUALCOMM makes up 1.0% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 27th largest holding. Trust Co. of Toledo NA OH’s holdings in QUALCOMM were worth $7,272,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares during the period. Geode Capital Management LLC boosted its holdings in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after buying an additional 670,432 shares during the period. Norges Bank bought a new stake in shares of QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the period. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on QCOM shares. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $189.88.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the transaction, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated 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. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 2.5%

QUALCOMM stock opened at $154.72 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The stock has a market capitalization of $169.88 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The business’s fifty day moving average is $145.85 and its 200 day moving average is $155.15.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, sell-side analysts predict 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. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM’s payout ratio 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.