First Western Trust Bank Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

First Western Trust Bank increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,718 shares of the wireless technology company’s stock after purchasing an additional 678 shares during the quarter. First Western Trust Bank’s holdings in QUALCOMM were worth $682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM during the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC boosted its position in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the period. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $35,000. Finally, Cranbrook Wealth Management LLC increased its holdings in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 46,316 shares of company stock worth $7,796,128 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Susquehanna raised their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Barclays upped their target price on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $0.01 during mid-day trading on Thursday, reaching $180.54. 5,508,369 shares of the stock were exchanged, compared to its average volume of 8,663,888. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $184.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The business’s 50 day moving average is $169.12 and its 200-day moving average is $148.31. The company has a market capitalization of $201.48 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

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.