Iowa State Bank Sells 227 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Iowa State Bank trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,580 shares of the wireless technology company’s stock after selling 227 shares during the period. Iowa State Bank’s holdings in QUALCOMM were worth $2,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Milestone Investment Advisors LLC bought a new position in QUALCOMM during the first quarter valued at about $26,000. DHJJ Financial Advisors Ltd. bought a new position in QUALCOMM during the third quarter valued at about $26,000. Financial Gravity Asset Management Inc. increased its stake in 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 period. Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter valued at about $35,000. Finally, Pacific Center for Financial Services acquired a new stake in QUALCOMM during the first quarter valued at approximately $31,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 0.4 %

QCOM stock traded down $0.68 during trading on Tuesday, hitting $171.04. The company had a trading volume of 7,430,673 shares, compared to its average volume of 8,945,487. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $158.85 and a 200-day moving average price of $137.27. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The stock has a market cap of $190.88 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued 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. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,360 shares of company stock worth $6,803,208. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on QCOM shares. Mizuho lifted their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $119.00 to $132.00 in a report on Friday, December 8th. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.71.

Get Our Latest Stock Report on QUALCOMM

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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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