Indiana Trust & Investment Management Co Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Indiana Trust & Investment Management Co increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 63.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,128 shares of the wireless technology company’s stock after purchasing an additional 2,377 shares during the period. Indiana Trust & Investment Management Co’s holdings in QUALCOMM were worth $1,042,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its holdings in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares in the last quarter. Czech National Bank raised its stake in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after acquiring an additional 13,888 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares during the period. City Holding Co. boosted its holdings in shares of QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after purchasing an additional 199 shares during the period. Finally, Heritage Wealth Management Inc. bought a new position in QUALCOMM in the second quarter worth approximately $1,539,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $2.48 during trading hours on Wednesday, reaching $171.61. The stock had a trading volume of 2,739,125 shares, compared to its average volume of 9,056,377. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a fifty day moving average of $168.55 and a 200 day moving average of $182.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The stock has a market cap of $191.52 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s payout ratio is presently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 in the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QCOM. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald lowered their price objective on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.75.

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.