Trust Co. of Toledo NA OH Acquires 419 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Trust Co. of Toledo NA OH increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,205 shares of the wireless technology company’s stock after purchasing an additional 419 shares during the period. QUALCOMM makes up about 1.1% of Trust Co. of Toledo NA OH’s holdings, making the stock its 23rd biggest position. Trust Co. of Toledo NA OH’s holdings in QUALCOMM were worth $8,027,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the first quarter worth approximately $27,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC grew its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the first quarter worth about $37,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QCOM stock opened at $168.32 on Thursday. The stock has a market capitalization of $187.51 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.86 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The stock has a fifty day simple moving average of $168.35 and a two-hundred day simple moving average of $182.05.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold a total of 25,245 shares of company stock worth $4,296,237 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QCOM. Barclays raised their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. KeyCorp lifted their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Tigress Financial increased their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM 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.