Community Bank & Trust Waco Texas Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Community Bank & Trust Waco Texas lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 70.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,227 shares of the wireless technology company’s stock after buying an additional 6,269 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in QUALCOMM were worth $2,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $35,000. Cranbrook Wealth Management LLC lifted its holdings in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM in the third quarter worth about $29,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of QUALCOMM in the third quarter worth about $40,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Benchmark started coverage on shares of QUALCOMM in a report on Tuesday. They issued a “buy” rating and a $200.00 price target on the stock. Cantor Fitzgerald raised their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Evercore ISI started coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Trading Up 1.1 %

Shares of QUALCOMM stock traded up $1.77 on Wednesday, hitting $163.12. The stock had a trading volume of 2,095,825 shares, compared to its average volume of 8,517,874. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The stock has a market cap of $182.04 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 2.20 and a beta of 1.41. The stock’s 50-day simple moving average is $165.24 and its two-hundred day simple moving average is $143.83.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

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.