Grove Bank & Trust Purchases 275 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Grove Bank & Trust increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,966 shares of the wireless technology company’s stock after acquiring an additional 275 shares during the period. Grove Bank & Trust’s holdings in QUALCOMM were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter worth $26,000. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter worth about $30,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% in the 3rd 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 last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the third quarter worth about $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 1.9 %

Shares of NASDAQ QCOM opened at $164.56 on Monday. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a 50-day moving average of $158.85 and a 200 day moving average of $168.82. The stock has a market cap of $182.83 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was 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 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.