First Citizens Bank & Trust Co. Bought 41,529 Shares of QUALCOMM, Inc. (QCOM)

First Citizens Bank & Trust Co. Bought 41,529 Shares of QUALCOMM, Inc. (QCOM)

First Citizens Bank & Trust Co. raised its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 197.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,549 shares of the wireless technology company’s stock after buying an additional 41,529 shares during the period. First Citizens Bank & Trust Co.’s holdings in QUALCOMM were worth $3,587,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Massey Quick & Co. LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $105,000. Edmond DE Rothschild Monaco acquired a new stake in shares of QUALCOMM during the third quarter worth about $112,000. American National Bank boosted its stake in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares during the period. Jacobi Capital Management LLC boosted its stake in shares of QUALCOMM by 11.2% in the third quarter. Jacobi Capital Management LLC now owns 2,467 shares of the wireless technology company’s stock worth $164,000 after buying an additional 248 shares during the period. Finally, Advantage Investment Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $200,000. 79.28% of the stock is owned by institutional investors.

Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at 58.58 on Friday. QUALCOMM, Inc. has a one year low of $50.84 and a one year high of $71.62. The stock’s 50 day moving average is $55.32 and its 200-day moving average is $59.33. The stock has a market cap of $86.55 billion, a P/E ratio of 19.52 and a beta of 1.31.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.29. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that QUALCOMM, Inc. will post $4.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 26th. This represents a $2.28 annualized dividend and a dividend yield of 3.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio is 64.63%.

A number of brokerages have recently issued reports on QCOM. Standpoint Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Friday, April 28th. Mizuho reaffirmed a “buy” rating and issued a $68.00 price objective (down previously from $75.00) on shares of QUALCOMM in a research note on Saturday, April 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 price objective on shares of QUALCOMM in a research note on Thursday, February 16th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price objective for the company. in a research note on Tuesday, May 2nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $64.19.

In other news, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the transaction, the president now owns 28,959 shares in the company, valued at $1,667,748.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the transaction, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,931 shares of company stock worth $3,536,013. Corporate insiders own 0.24% of the company’s stock.

About QUALCOMM

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:QCOM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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