Eastern Bank Acquires 8,555 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Eastern Bank boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 769.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,667 shares of the wireless technology company’s stock after acquiring an additional 8,555 shares during the quarter. Eastern Bank’s holdings in QUALCOMM were worth $1,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sovereign Financial Group Inc. acquired a new position in QUALCOMM during the first quarter worth $688,000. TrueMark Investments LLC grew its holdings in shares of QUALCOMM by 24.7% in the 1st quarter. TrueMark Investments LLC now owns 20,024 shares of the wireless technology company’s stock worth $3,390,000 after purchasing an additional 3,960 shares during the last quarter. Aspiriant LLC lifted its holdings in QUALCOMM by 25.0% during the 1st quarter. Aspiriant LLC now owns 17,470 shares of the wireless technology company’s stock valued at $2,958,000 after purchasing an additional 3,490 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in QUALCOMM by 50.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 2,305 shares of the wireless technology company’s stock valued at $390,000 after purchasing an additional 777 shares during the last quarter. Finally, DGS Capital Management LLC bought a new stake in QUALCOMM during the first quarter worth about $265,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on QCOM. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Stock Up 2.5 %

Shares of NASDAQ:QCOM opened at $173.18 on Wednesday. The company has a 50 day moving average price of $169.31 and a two-hundred day moving average price of $182.26. The company has a market capitalization of $192.92 billion, a PE ratio of 22.43, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. Analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.96%. QUALCOMM’s dividend payout ratio is presently 44.04%.

About QUALCOMM

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.