QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Indiana Trust & Investment Management CO


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Indiana Trust & Investment Management CO reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,076 shares of the wireless technology company’s stock after selling 130 shares during the period. Indiana Trust & Investment Management CO’s holdings in QUALCOMM were worth $673,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Security National Bank acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $352,000. Jacobs & Co. CA raised its holdings in QUALCOMM by 6.9% in the 1st quarter. Jacobs & Co. CA now owns 106,380 shares of the wireless technology company’s stock valued at $14,104,000 after acquiring an additional 6,907 shares during the last quarter. Woodstock Corp raised its holdings in QUALCOMM by 2.5% in the 1st quarter. Woodstock Corp now owns 104,264 shares of the wireless technology company’s stock valued at $13,824,000 after acquiring an additional 2,585 shares during the last quarter. Fulton Bank N.A. raised its holdings in QUALCOMM by 3.4% in the 1st quarter. Fulton Bank N.A. now owns 9,666 shares of the wireless technology company’s stock valued at $1,282,000 after acquiring an additional 315 shares during the last quarter. Finally, Private Asset Management Inc. raised its holdings in QUALCOMM by 2.4% in the 1st quarter. Private Asset Management Inc. now owns 519,253 shares of the wireless technology company’s stock valued at $68,848,000 after acquiring an additional 11,990 shares during the last quarter. Hedge funds and other institutional investors own 74.76% of the company’s stock.

NASDAQ:QCOM traded down $0.35 on Thursday, reaching $139.08. The stock had a trading volume of 258,557 shares, compared to its average volume of 10,771,538. The company has a current ratio of 2.14, a quick ratio of 1.84 and a debt-to-equity ratio of 2.51. The company has a 50-day moving average of $134.50 and a 200 day moving average of $140.16. The stock has a market cap of $157.99 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. QUALCOMM Incorporated has a 12-month low of $70.00 and a 12-month high of $167.94.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.07. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.26 billion. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The firm’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post 6.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th were given a $0.65 dividend. The ex-dividend date was Wednesday, March 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 1.87%. QUALCOMM’s payout ratio is currently 77.84%.

Several research analysts have weighed in on QCOM shares. Piper Sandler upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $160.00 in a report on Wednesday, March 10th. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price target for the company. in a report on Thursday, February 4th. Morgan Stanley cut their price target on QUALCOMM from $171.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, February 4th. Susquehanna Bancshares boosted their price target on QUALCOMM from $165.00 to $175.00 and gave the company a “positive” rating in a report on Thursday, February 4th. Finally, Barclays boosted their price target on QUALCOMM from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $160.88.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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