QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by City Holding Co.

City Holding Co. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,829 shares of the wireless technology company’s stock after buying an additional 291 shares during the quarter. City Holding Co.’s holdings in QUALCOMM were worth $1,664,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Client 1ST Advisory Group LLC acquired a new stake in QUALCOMM during the fourth quarter worth $216,000. Grove Bank & Trust increased its position in QUALCOMM by 10.2% in the 4th quarter. Grove Bank & Trust now owns 2,966 shares of the wireless technology company’s stock valued at $456,000 after acquiring an additional 275 shares in the last quarter. Delta Capital Management LLC lifted its holdings in QUALCOMM by 0.8% during the 4th quarter. Delta Capital Management LLC now owns 25,080 shares of the wireless technology company’s stock worth $3,853,000 after buying an additional 200 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of QUALCOMM by 16.8% in the 4th quarter. Artemis Investment Management LLP now owns 75,508 shares of the wireless technology company’s stock valued at $11,600,000 after purchasing an additional 10,867 shares during the last quarter. Finally, Oak Ridge Investments LLC lifted its stake in shares of QUALCOMM by 3.8% in the 4th quarter. Oak Ridge Investments LLC now owns 8,083 shares of the wireless technology company’s stock valued at $1,242,000 after purchasing an additional 296 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 1.9 %

Shares of QCOM opened at $164.56 on Monday. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The firm has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The firm has a 50-day moving average price of $158.85 and a 200 day moving average price of $168.82. 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) 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. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. 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 in the last three months. 0.08% of the stock is currently owned by company insiders.

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.