Associated Banc Corp Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Associated Banc Corp reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 35.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,504 shares of the wireless technology company’s stock after selling 815 shares during the period. Associated Banc Corp’s holdings in QUALCOMM were worth $231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the third quarter worth $39,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on QCOM shares. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last quarter. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 3.1 %

Shares of QUALCOMM stock opened at $156.58 on Monday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $164.68 and its 200 day moving average is $164.40. The company has a market cap of $173.18 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.