Iowa State Bank Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Iowa State Bank lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,580 shares of the wireless technology company’s stock after selling 227 shares during the period. Iowa State Bank’s holdings in QUALCOMM were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. grew its stake in shares of QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after acquiring an additional 42,500 shares during the last quarter. HF Advisory Group LLC purchased a new stake in shares of QUALCOMM during the third quarter worth about $629,000. Bank Hapoalim BM grew its stake in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares during the last quarter. DnB Asset Management AS grew its stake in shares of QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after acquiring an additional 215,522 shares during the last quarter. Finally, Sather Financial Group Inc grew its stake in shares of QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after acquiring an additional 18,090 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $119.00 to $132.00 in a research note on Friday, December 8th. KeyCorp lifted their target price on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.71.

Get Our Latest Analysis on QCOM

QUALCOMM Price Performance

Shares of QCOM stock traded down $0.68 during trading hours on Tuesday, hitting $171.04. 7,430,673 shares of the company’s stock were exchanged, compared to its average volume of 8,945,487. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market cap of $190.88 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.31 and a beta of 1.41. The firm has a 50 day moving average of $158.85 and a two-hundred day moving average of $137.27. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now directly owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,360 shares of company stock worth $6,803,208. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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