Plimoth Trust Co. LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Plimoth Trust Co. LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,411 shares of the wireless technology company’s stock after buying an additional 177 shares during the quarter. QUALCOMM makes up 1.4% of Plimoth Trust Co. LLC’s portfolio, making the stock its 14th biggest holding. Plimoth Trust Co. LLC’s holdings in QUALCOMM were worth $5,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Susquehanna Fundamental Investments LLC purchased a new position in shares of QUALCOMM in the 2nd quarter valued at $896,000. Ascent Group LLC raised its holdings in shares of QUALCOMM by 13.4% during the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 335 shares during the last quarter. Algert Global LLC purchased a new stake in shares of QUALCOMM in the second quarter valued at approximately $366,000. Invst LLC grew its position in QUALCOMM by 2.9% in the second quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after acquiring an additional 67 shares during the period. Finally, Quarry LP lifted its stake in QUALCOMM by 155.5% during the second quarter. Quarry LP now owns 930 shares of the wireless technology company’s stock worth $185,000 after purchasing an additional 566 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 0.1 %

Shares of QUALCOMM stock traded up $0.21 during trading hours on Wednesday, hitting $171.76. The company’s stock had a trading volume of 1,075,906 shares, compared to its average volume of 7,307,465. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The firm has a fifty day moving average of $159.76 and a 200-day moving average of $166.85. The stock has a market cap of $190.83 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Research analysts forecast that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.