Orrstown Financial Services Inc. Acquires 107 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Orrstown Financial Services Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,786 shares of the wireless technology company’s stock after acquiring an additional 107 shares during the period. Orrstown Financial Services Inc.’s holdings in QUALCOMM were worth $428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Reston Wealth Management LLC purchased a new position in QUALCOMM during the third quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter worth about $27,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM traded up $1.26 on Wednesday, reaching $172.81. 845,972 shares of the stock were exchanged, compared to its average volume of 7,306,376. 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 company’s 50-day moving average price is $159.76 and its 200 day moving average price is $166.85. The firm has a market capitalization of $191.99 billion, a PE ratio of 19.28, a PEG ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast 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 given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The sale 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 business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.