Bank of Hawaii Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Bank of Hawaii cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,864 shares of the wireless technology company’s stock after selling 510 shares during the quarter. Bank of Hawaii’s holdings in QUALCOMM were worth $2,744,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Scotia Capital Inc. grew its holdings in shares of QUALCOMM by 0.7% in the fourth quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company’s stock valued at $19,855,000 after purchasing an additional 890 shares in the last quarter. F M Investments LLC lifted its position in shares of QUALCOMM by 40.9% during the 4th quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company’s stock worth $1,733,000 after buying an additional 3,272 shares during the last quarter. One Degree Advisors Inc lifted its position in shares of QUALCOMM by 4.4% during the 4th quarter. One Degree Advisors Inc now owns 2,348 shares of the wireless technology company’s stock worth $361,000 after buying an additional 99 shares during the last quarter. APG Asset Management US Inc. lifted its position in shares of QUALCOMM by 2.9% during the 4th quarter. APG Asset Management US Inc. now owns 35,068 shares of the wireless technology company’s stock worth $5,387,000 after buying an additional 992 shares during the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of QUALCOMM by 812.1% during the 4th quarter. APG Asset Management N.V. now owns 678,856 shares of the wireless technology company’s stock worth $100,711,000 after buying an additional 604,432 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $143.59 on Thursday. The stock has a market cap of $158.81 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company’s 50-day moving average price is $157.89 and its 200 day moving average price is $161.88. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.37%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $202.64.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,018 shares of company stock worth $4,955,613. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.