Ledyard National Bank Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Ledyard National Bank increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,331 shares of the wireless technology company’s stock after purchasing an additional 71 shares during the quarter. Ledyard National Bank’s holdings in QUALCOMM were worth $204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% during the third 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 last quarter. Accordant Advisory Group Inc purchased a new stake in QUALCOMM during the third quarter worth $36,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $167.96 on Friday. The firm has a market capitalization of $186.60 billion, a PE ratio of 18.68, a P/E/G ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $146.29 and a 12 month high of $230.63. 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 business has a 50-day moving average of $161.96 and a two-hundred day moving average of $166.04.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,981 shares of company stock worth $4,000,870. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.