QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,640 shares of the wireless technology company’s stock after selling 250 shares during the period. Home Federal Bank of Tennessee’s holdings in QUALCOMM were worth $616,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Peoples Bank OH acquired a new position in QUALCOMM during the fourth quarter valued at approximately $219,000. Bank Hapoalim BM lifted its position in QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares in the last quarter. NewEdge Wealth LLC lifted its position in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. lifted its position in QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after buying an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $305,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Canaccord Genuity Group lifted their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays lifted their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was 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 of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM traded up $4.03 during midday trading on Friday, hitting $199.18. 15,547,484 shares of the stock traded hands, compared to its average volume of 11,272,695. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The firm has a market capitalization of $222.28 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The business’s 50 day moving average price is $195.82 and its two-hundred day moving average price is $169.45.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. QUALCOMM’s payout ratio is 45.70%.

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.