Field & Main Bank Boosts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Field & Main Bank boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,275 shares of the wireless technology company’s stock after buying an additional 265 shares during the quarter. Field & Main Bank’s holdings in QUALCOMM were worth $196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Forsta AP Fonden lifted its holdings in QUALCOMM by 5.3% during the fourth quarter. Forsta AP Fonden now owns 317,400 shares of the wireless technology company’s stock valued at $48,759,000 after purchasing an additional 15,900 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 18.9% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 123,625 shares of the wireless technology company’s stock valued at $20,344,000 after acquiring an additional 19,635 shares during the last quarter. Smith Group Asset Management LLC lifted its position in shares of QUALCOMM by 54.4% in the fourth quarter. Smith Group Asset Management LLC now owns 4,600 shares of the wireless technology company’s stock valued at $707,000 after acquiring an additional 1,620 shares in the last quarter. R Squared Ltd acquired a new stake in shares of QUALCOMM in the fourth quarter worth approximately $138,000. Finally, Twelve Points Wealth Management LLC increased its position in shares of QUALCOMM by 4.3% during the fourth quarter. Twelve Points Wealth Management LLC now owns 13,950 shares of the wireless technology company’s stock worth $2,143,000 after purchasing an additional 569 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $172.07 on Wednesday. The firm’s fifty day simple moving average is $159.76 and its 200 day simple moving average is $166.85. 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 twelve month low of $139.26 and a twelve month high of $230.63. The firm has a market capitalization of $191.16 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 company 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, equities research analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced 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. 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 payout ratio is 37.82%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Evercore ISI increased their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $206.57.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by insiders.

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.