First Financial Bank Trust Division Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First Financial Bank Trust Division trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 40,429 shares of the wireless technology company’s stock after selling 878 shares during the period. First Financial Bank Trust Division’s holdings in QUALCOMM were worth $6,211,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lantz Financial LLC purchased a new stake in QUALCOMM during the second quarter worth about $234,000. TIAA Trust National Association boosted its position in QUALCOMM by 84.5% in the 2nd quarter. TIAA Trust National Association now owns 101,478 shares of the wireless technology company’s stock valued at $20,212,000 after buying an additional 46,479 shares during the period. Magnus Financial Group LLC grew its stake in shares of QUALCOMM by 3.4% in the second quarter. Magnus Financial Group LLC now owns 2,534 shares of the wireless technology company’s stock worth $505,000 after acquiring an additional 84 shares in the last quarter. Jackson Creek Investment Advisors LLC increased its position in shares of QUALCOMM by 74.9% during the second quarter. Jackson Creek Investment Advisors LLC now owns 3,679 shares of the wireless technology company’s stock worth $733,000 after acquiring an additional 1,575 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of QUALCOMM by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 96,025 shares of the wireless technology company’s stock valued at $19,126,000 after acquiring an additional 610 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $0.01 on Thursday, reaching $153.61. The company’s stock had a trading volume of 3,104,481 shares, compared to its average volume of 8,909,033. QUALCOMM Incorporated has a 52-week low of $134.94 and a 52-week high of $230.63. The stock has a market capitalization of $170.66 billion, a P/E ratio of 17.09, a PEG ratio of 2.65 and a beta of 1.25. The stock’s 50-day moving average is $161.18 and its two-hundred day moving average is $172.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.21%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on QCOM shares. JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Sanford C. Bernstein lifted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

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.