UMB Bank n.a. Sells 756 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

UMB Bank n.a. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 42,791 shares of the wireless technology company’s stock after selling 756 shares during the period. UMB Bank n.a.’s holdings in QUALCOMM were worth $6,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. raised its stake in shares of QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after buying an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after acquiring an additional 245,335 shares during the period. Merit Financial Group LLC raised its position in shares of QUALCOMM by 25.2% during the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after acquiring an additional 555 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after purchasing an additional 8,472 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of QUALCOMM by 30.4% in the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $171.04 on Wednesday. The stock has a market capitalization of $190.88 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.35 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The firm has a fifty day simple moving average of $159.20 and a 200 day simple moving average of $137.68. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Research analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is 46.38%.

Analysts Set New Price Targets

Several research firms have weighed in on QCOM. Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $119.00 to $132.00 in a research note on Friday, December 8th. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. TD Cowen boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

Get Our Latest Analysis on QUALCOMM

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Insiders sold 42,360 shares of company stock worth $6,803,208 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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