Missouri Trust & Investment Co Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Missouri Trust & Investment Co raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,221 shares of the wireless technology company’s stock after purchasing an additional 114 shares during the period. Missouri Trust & Investment Co’s holdings in QUALCOMM were worth $495,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Nordea Investment Management AB raised its holdings in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $2,058,000. Burney Co. raised its stake in shares of QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its holdings in QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after purchasing an additional 18,315 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $167.27 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The business’s 50 day moving average is $158.78 and its two-hundred day moving average is $168.29. The company has a market capitalization of $185.84 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.75 and a beta of 1.25.

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 analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts expect that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 2.03%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Susquehanna lowered their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. 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.