Diversified Trust Co Purchases 26,679 Shares of Qualcomm Incorporated $QCOM

Diversified Trust Co boosted its position in Qualcomm Incorporated (NASDAQ:QCOM) by 72.1% during the third quarter, HoldingsChannel.com reports. The fund owned 63,701 shares of the wireless technology company’s stock after buying an additional 26,679 shares during the quarter. Diversified Trust Co’s holdings in Qualcomm were worth $11,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Vista Capital Partners Inc. bought a new stake in shares of Qualcomm during the 3rd quarter worth $228,000. Compass Capital Management Inc. grew its position in Qualcomm by 12.1% in the third quarter. Compass Capital Management Inc. now owns 300,803 shares of the wireless technology company’s stock valued at $55,360,000 after acquiring an additional 32,482 shares during the last quarter. Valmark Advisers Inc. grew its position in Qualcomm by 4.1% in the third quarter. Valmark Advisers Inc. now owns 3,414 shares of the wireless technology company’s stock valued at $628,000 after acquiring an additional 134 shares during the last quarter. Money Concepts Capital Corp raised its stake in Qualcomm by 109.0% during the third quarter. Money Concepts Capital Corp now owns 5,828 shares of the wireless technology company’s stock worth $1,073,000 after acquiring an additional 3,040 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Qualcomm by 44.2% during the third quarter. Allworth Financial LP now owns 164,374 shares of the wireless technology company’s stock worth $30,375,000 after acquiring an additional 50,382 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Cantor Fitzgerald reduced their price target on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Benchmark lowered their price objective on shares of Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Evercore set a $159.00 price objective on shares of Qualcomm in a research report on Thursday, July 30th. Susquehanna dropped their price objective on shares of Qualcomm from $185.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th. Finally, Royal Bank Of Canada raised their target price on shares of Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $197.13.

Qualcomm Price Performance

Qualcomm stock opened at $172.47 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $184.54 billion, a PE ratio of 13.58, a P/E/G ratio of 2.07 and a beta of 1.70. Qualcomm Incorporated has a 12 month low of $121.99 and a 12 month high of $259.92. The stock has a 50-day moving average price of $178.73 and a two-hundred day moving average price of $169.99.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $3.00 earnings per share. Analysts expect that Qualcomm Incorporated will post 6.75 EPS for the current year.

Qualcomm Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.92 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.68 annualized dividend and a yield of 2.1%. Qualcomm’s dividend payout ratio (DPR) is currently 28.98%.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Akash Palkhiwala sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total transaction of $437,650.00. Following the sale, the executive vice president directly owned 20,799 shares of the company’s stock, valued at $3,641,072.94. The trade was a 10.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,501 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $161.54, for a total transaction of $242,471.54. Following the completion of the transaction, the executive vice president owned 27,271 shares of the company’s stock, valued at approximately $4,405,357.34. This trade represents a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,520 shares of company stock worth $6,101,411 over the last quarter. Insiders own 0.05% of the company’s stock.

Key Qualcomm News

Investors following QCOM have been watching these news items:

• Positive Sentiment: Zacks Research raised its rating on QCOM from “strong sell” to “hold,” indicating a less negative view, though not a bullish recommendation. Article: Zacks Research rating
• Negative Sentiment: Analyst commentary highlights falling earnings estimates, margin pressure, and significant investment needs. Qualcomm’s data-center growth plans also face customer-concentration and execution risks, making the targets uncertain. Article: Qualcomm’s $5 Billion Data Center Ramp Puts Execution in Focus Now
• Negative Sentiment: Handset weakness and uncertainty around data-center growth have been cited as reasons for pressure on Qualcomm, despite its recent quarterly earnings beat. The SpaceX partnership also faces questions about the difficulty of competing with established mobile carriers. Article: Semiconductor ETFs to Buy as Qualcomm Plunges Despite Q4 Earnings Beat

About Qualcomm

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.