Central Pacific Bank Trust Division Purchases 591 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Central Pacific Bank Trust Division increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,312 shares of the wireless technology company’s stock after purchasing an additional 591 shares during the period. Central Pacific Bank Trust Division’s holdings in QUALCOMM were worth $2,199,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lantz Financial LLC purchased a new position in QUALCOMM during the 2nd quarter valued at about $234,000. Founders Financial Securities LLC lifted its holdings in shares of QUALCOMM by 19.5% during the second quarter. Founders Financial Securities LLC now owns 3,763 shares of the wireless technology company’s stock valued at $750,000 after purchasing an additional 615 shares during the last quarter. First National Trust Co lifted its holdings in shares of QUALCOMM by 1.4% during the second quarter. First National Trust Co now owns 11,772 shares of the wireless technology company’s stock valued at $2,345,000 after purchasing an additional 167 shares during the last quarter. Cora Capital Advisors LLC bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $233,000. Finally, FineMark National Bank & Trust grew its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. FineMark National Bank & Trust now owns 85,497 shares of the wireless technology company’s stock worth $17,029,000 after buying an additional 779 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on QCOM shares. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

QUALCOMM Stock Up 2.9 %

Shares of NASDAQ:QCOM traded up $4.42 during trading hours on Friday, hitting $158.06. The company’s stock had a trading volume of 2,617,690 shares, compared to its average volume of 3,762,515. QUALCOMM Incorporated has a 52 week low of $134.94 and a 52 week high of $230.63. The firm’s fifty day moving average price is $160.89 and its 200 day moving average price is $172.78. The company has a market capitalization of $175.60 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.65 and a beta of 1.25. 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 issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.