Bell Bank Sells 692 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bell Bank decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,501 shares of the wireless technology company’s stock after selling 692 shares during the quarter. Bell Bank’s holdings in QUALCOMM were worth $538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $29,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, 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 value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,708 shares of company stock valued at $7,713,734. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 4.8 %

Shares of NASDAQ QCOM opened at $165.43 on Friday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm has a 50-day simple moving average of $164.46 and a two-hundred day simple moving average of $165.72. The company has a market cap of $182.97 billion, a P/E ratio of 17.67, a PEG ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

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 return on equity of 39.51% and a net margin of 25.94%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 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. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on QCOM shares. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Susquehanna lowered 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. Finally, Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.