QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by CNB Bank

CNB Bank decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,739 shares of the wireless technology company’s stock after selling 682 shares during the quarter. QUALCOMM makes up 1.2% of CNB Bank’s holdings, making the stock its 15th largest position. CNB Bank’s holdings in QUALCOMM were worth $2,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% in the third 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 during the last quarter. Fortitude Family Office LLC purchased a new position in QUALCOMM during the fourth quarter worth approximately $35,000. Pacific Center for Financial Services purchased a new position in QUALCOMM during the first quarter worth approximately $31,000. Finally, Cranbrook Wealth Management LLC boosted its position in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value 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. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 over the last quarter. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QCOM shares. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Evercore ISI started coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. Canaccord Genuity Group increased their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Finally, Mizuho increased their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $156.90.

View Our Latest Research Report on QCOM

QUALCOMM Price Performance

NASDAQ:QCOM opened at $157.63 on Friday. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a market cap of $175.92 billion, a PE ratio of 22.84, a P/E/G ratio of 2.15 and a beta of 1.41. The stock has a 50 day moving average price of $164.87 and a 200 day moving average price of $142.89.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $9.50 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.16%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

QUALCOMM Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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