QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Community Bank N.A.

Community Bank N.A. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,127 shares of the wireless technology company’s stock after purchasing an additional 470 shares during the quarter. Community Bank N.A.’s holdings in QUALCOMM were worth $4,502,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in QUALCOMM during the 4th quarter worth approximately $35,000. Cranbrook Wealth Management LLC increased its stake in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in QUALCOMM during the 3rd quarter worth approximately $29,000. Finally, Buck Wealth Strategies LLC purchased a new stake in QUALCOMM during the 3rd quarter worth approximately $40,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on QCOM shares. Susquehanna boosted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Barclays increased their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.4 %

NASDAQ:QCOM traded up $2.28 during trading hours on Wednesday, hitting $163.63. The company’s stock had a trading volume of 6,088,578 shares, compared to its average volume of 8,570,011. The stock has a market capitalization of $182.61 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The stock has a fifty day moving average of $165.43 and a 200-day moving average of $143.97. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating 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 firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

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.