Cullen Frost Bankers Inc. Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cullen Frost Bankers Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 217,800 shares of the wireless technology company’s stock after selling 9,090 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in QUALCOMM were worth $31,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Everpar Advisors LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $2,138,000. Gryphon Financial Partners LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $334,000. Moss Adams Wealth Advisors LLC raised its stake in shares of QUALCOMM by 21.6% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 2,450 shares of the wireless technology company’s stock valued at $354,000 after acquiring an additional 435 shares during the period. Cherry Tree Wealth Management LLC raised its stake in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Finally, Barlow Wealth Partners Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $318,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Finally, Argus upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.48.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.70 during midday trading on Tuesday, hitting $180.15. The company had a trading volume of 8,005,698 shares, compared to its average volume of 8,727,156. The stock has a market cap of $201.05 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.33. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $168.62 and a 200 day simple moving average of $148.09. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $184.31.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock valued at $7,796,128 in the last three months. 0.08% of the stock is owned by insiders.

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.