Central Pacific Bank Trust Division Has $2.20 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Central Pacific Bank Trust Division increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,312 shares of the wireless technology company’s stock after purchasing an additional 591 shares during the quarter. Central Pacific Bank Trust Division’s holdings in QUALCOMM were worth $2,199,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lantz Financial LLC bought a new position in shares of QUALCOMM in the second quarter valued at $234,000. Founders Financial Securities LLC lifted its position in QUALCOMM by 19.5% during the second quarter. Founders Financial Securities LLC now owns 3,763 shares of the wireless technology company’s stock worth $750,000 after purchasing an additional 615 shares during the period. First National Trust Co boosted its holdings in shares of QUALCOMM by 1.4% in the 2nd quarter. First National Trust Co now owns 11,772 shares of the wireless technology company’s stock valued at $2,345,000 after purchasing an additional 167 shares in the last quarter. Cora Capital Advisors LLC acquired a new stake in QUALCOMM in the second quarter valued at about $233,000. Finally, FineMark National Bank & Trust grew its holdings in shares of QUALCOMM by 0.9% during the 2nd quarter. FineMark National Bank & Trust now owns 85,497 shares of the wireless technology company’s stock valued at $17,029,000 after purchasing an additional 779 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent research reports. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. UBS Group raised their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

QUALCOMM Price Performance

NASDAQ QCOM traded up $4.42 during trading on Friday, reaching $158.06. The company’s stock had a trading volume of 2,617,690 shares, compared to its average volume of 3,762,515. The stock has a market capitalization of $175.60 billion, a PE ratio of 17.58, a P/E/G ratio of 2.65 and a beta of 1.25. 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 fifty day moving average of $160.89 and a 200 day moving average of $172.78. QUALCOMM Incorporated has a one year low of $134.94 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.90 billion. Analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s payout ratio is 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.