Berkshire Bank Has $492,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Berkshire Bank increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,201 shares of the wireless technology company’s stock after purchasing an additional 95 shares during the period. Berkshire Bank’s holdings in QUALCOMM were worth $492,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $896,000. Ascent Group LLC grew its stake in shares of QUALCOMM by 13.4% during the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock worth $564,000 after buying an additional 335 shares during the last quarter. Algert Global LLC acquired a new position in shares of QUALCOMM during the second quarter worth $366,000. Magnolia Capital Advisors LLC acquired a new position in shares of QUALCOMM during the second quarter worth $1,340,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of QUALCOMM by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 79,506 shares of the wireless technology company’s stock valued at $15,836,000 after acquiring an additional 19,744 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Trading Down 0.5 %

NASDAQ:QCOM opened at $171.18 on Tuesday. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The company has a market cap of $190.18 billion, a PE ratio of 19.04, a PEG ratio of 2.84 and a beta of 1.25. 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 firm has a 50-day moving average of $159.49 and a 200-day moving average of $167.27.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on 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 transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 in the last three months. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.