1ST Source Bank Sells 112 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

1ST Source Bank lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,252 shares of the wireless technology company’s stock after selling 112 shares during the period. 1ST Source Bank’s holdings in QUALCOMM were worth $4,124,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. DGS Capital Management LLC raised its holdings in QUALCOMM by 65.1% in the 3rd quarter. DGS Capital Management LLC now owns 3,486 shares of the wireless technology company’s stock worth $593,000 after acquiring an additional 1,374 shares during the last quarter. Copley Financial Group Inc. bought a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $141,000. Oddo BHF Asset Management Sas purchased a new position in shares of QUALCOMM during the 3rd quarter valued at $344,000. Franklin Resources Inc. raised its position in shares of QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after buying an additional 110,828 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of QUALCOMM by 8.2% in the third quarter. Synovus Financial Corp now owns 54,680 shares of the wireless technology company’s stock worth $9,299,000 after purchasing an additional 4,129 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on QCOM shares. UBS Group raised their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a research report on Monday. They set a “hold” rating and a $180.00 target price for the company. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.00.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,540 shares of company stock valued at $6,300,999 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.5 %

QCOM stock traded down $0.75 during trading on Friday, hitting $157.49. 1,537,044 shares of the company’s stock traded hands, compared to its average volume of 8,928,386. The business has a fifty day simple moving average of $165.18 and a two-hundred day simple moving average of $178.37. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. The firm has a market capitalization of $174.97 billion, a P/E ratio of 17.60, a PEG ratio of 2.68 and a beta of 1.25.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.