Central Bank & Trust Co. Sells 3,702 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Central Bank & Trust Co. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,142 shares of the wireless technology company’s stock after selling 3,702 shares during the quarter. Central Bank & Trust Co.’s holdings in QUALCOMM were worth $4,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. LaFleur & Godfrey LLC lifted its holdings in QUALCOMM by 10.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after acquiring an additional 300 shares during the period. Cove Private Wealth LLC increased its position in shares of QUALCOMM by 1.4% during the 4th quarter. Cove Private Wealth LLC now owns 5,800 shares of the wireless technology company’s stock valued at $891,000 after purchasing an additional 80 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of QUALCOMM by 13.9% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,129 shares of the wireless technology company’s stock worth $1,863,000 after purchasing an additional 1,478 shares during the period. Zhang Financial LLC boosted its holdings in shares of QUALCOMM by 3.1% in the 4th quarter. Zhang Financial LLC now owns 5,694 shares of the wireless technology company’s stock worth $875,000 after buying an additional 172 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc grew its position in QUALCOMM by 27.7% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 817 shares of the wireless technology company’s stock valued at $126,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on QCOM shares. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity

In other news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $164.56 on Tuesday. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a 50 day moving average of $158.85 and a 200 day moving average of $168.57. The company has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.75 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.12 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

QUALCOMM 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.