Crews Bank & Trust Invests $2.26 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Crews Bank & Trust bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,735 shares of the wireless technology company’s stock, valued at approximately $2,264,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at $27,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

QUALCOMM stock opened at $171.71 on Thursday. The business has a 50-day simple moving average of $159.76 and a 200 day simple moving average of $166.85. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The stock has a market cap of $190.77 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 2.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.