Community Bank N.A. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Community Bank N.A. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,127 shares of the wireless technology company’s stock after purchasing an additional 470 shares during the period. Community Bank N.A.’s holdings in QUALCOMM were worth $4,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. International Assets Investment Management LLC lifted its position in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Barclays PLC lifted its position in shares of QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares during the last quarter. Invesco Ltd. lifted its position in shares of QUALCOMM by 15.7% during the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald increased their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.86.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $2.28 during trading hours on Wednesday, hitting $163.63. The stock had a trading volume of 6,088,578 shares, compared to its average volume of 8,570,011. The stock’s fifty day simple moving average is $165.43 and its 200 day simple moving average is $143.97. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The firm has a market capitalization of $182.61 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

QUALCOMM Company 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.