QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Citizens Business Bank

Citizens Business Bank trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,104 shares of the wireless technology company’s stock after selling 1,023 shares during the period. Citizens Business Bank’s holdings in QUALCOMM were worth $2,618,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Peoples Bank OH purchased a new stake in QUALCOMM in the fourth quarter valued at $219,000. HF Advisory Group LLC purchased a new stake in shares of QUALCOMM in the third quarter worth about $629,000. Bank Hapoalim BM grew its holdings in 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 period. NewEdge Wealth LLC raised its position in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in QUALCOMM by 24.2% in the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after acquiring an additional 7,682 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM traded down $3.35 during trading on Tuesday, reaching $165.85. The company’s stock had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. The company has a market cap of $185.09 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.41. The firm has a fifty day simple moving average of $166.17 and a two-hundred day simple moving average of $145.34. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Finally, Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.68.

QUALCOMM Company 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.