Somerset Trust Co Has $3.31 Million Stake in QUALCOMM, Inc. (QCOM)

Somerset Trust Co raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,645 shares of the wireless technology company’s stock after purchasing an additional 6,072 shares during the quarter. QUALCOMM accounts for about 1.7% of Somerset Trust Co’s portfolio, making the stock its 11th biggest position. Somerset Trust Co’s holdings in QUALCOMM were worth $3,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of QCOM. Loudon Investment Management LLC grew its holdings in shares of QUALCOMM by 29.9% in the second quarter. Loudon Investment Management LLC now owns 14,543 shares of the wireless technology company’s stock valued at $803,000 after acquiring an additional 3,350 shares in the last quarter. Capital Investment Counsel Inc grew its holdings in shares of QUALCOMM by 3.5% in the second quarter. Capital Investment Counsel Inc now owns 81,129 shares of the wireless technology company’s stock valued at $4,480,000 after acquiring an additional 2,710 shares in the last quarter. HM Payson & Co. grew its holdings in shares of QUALCOMM by 1.2% in the second quarter. HM Payson & Co. now owns 526,667 shares of the wireless technology company’s stock valued at $29,083,000 after acquiring an additional 6,103 shares in the last quarter. Financial Advisors Network Inc. grew its holdings in shares of QUALCOMM by 1.7% in the second quarter. Financial Advisors Network Inc. now owns 5,053 shares of the wireless technology company’s stock valued at $279,000 after acquiring an additional 83 shares in the last quarter. Finally, Annex Advisory Services LLC grew its holdings in shares of QUALCOMM by 33.0% in the second quarter. Annex Advisory Services LLC now owns 16,059 shares of the wireless technology company’s stock valued at $887,000 after acquiring an additional 3,984 shares in the last quarter. 75.68% of the stock is owned by hedge funds and other institutional investors.

QCOM has been the subject of several recent analyst reports. Canaccord Genuity upped their target price on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Royal Bank of Canada upped their target price on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 target price for the company. in a report on Monday, November 6th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Nomura raised QUALCOMM from a “neutral” rating to a “buy” rating and upped their target price for the company from $58.00 to $75.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $68.25.

In other QUALCOMM news, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares in the company, valued at $709,484.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,346 shares of company stock worth $3,499,504. Company insiders own 0.17% of the company’s stock.

QUALCOMM, Inc. (NASDAQ:QCOM) opened at $64.85 on Friday. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28. The firm has a market capitalization of $95,370.00, a price-to-earnings ratio of -26.47, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The business had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the company earned $1.19 earnings per share. QUALCOMM’s revenue was up 1.7% compared to the same quarter last year. equities research analysts predict that QUALCOMM, Inc. will post 2.8 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.52%. QUALCOMM’s dividend payout ratio is currently -93.06%.

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QUALCOMM Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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