Field & Main Bank Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Field & Main Bank trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,370 shares of the wireless technology company’s stock after selling 175 shares during the period. Field & Main Bank’s holdings in QUALCOMM were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $29,000. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $35,000. Cranbrook Wealth Management LLC raised its position in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 163,963 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on QCOM. Susquehanna lifted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Evercore ISI began coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Finally, Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of the business’s 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 sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,260 shares of company stock valued at $5,973,728. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.1 %

QCOM traded up $3.54 on Monday, reaching $169.20. The company’s stock had a trading volume of 6,619,586 shares, compared to its average volume of 8,500,422. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The business’s 50 day moving average is $166.17 and its 200 day moving average is $145.34. The stock has a market cap of $188.83 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

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.