CNB Bank Sells 473 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CNB Bank decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,000 shares of the wireless technology company’s stock after selling 473 shares during the quarter. CNB Bank’s holdings in QUALCOMM were worth $1,383,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in QCOM. Avanza Fonder AB acquired a new position in shares of QUALCOMM in the 4th quarter valued at $17,285,000. Procyon Advisors LLC lifted its holdings in shares of QUALCOMM by 8.8% during the fourth quarter. Procyon Advisors LLC now owns 40,433 shares of the wireless technology company’s stock valued at $6,211,000 after acquiring an additional 3,281 shares during the period. RDA Financial Network increased its position in shares of QUALCOMM by 20.3% during the 4th quarter. RDA Financial Network now owns 8,589 shares of the wireless technology company’s stock worth $1,319,000 after purchasing an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its holdings in QUALCOMM by 4.5% during the 4th quarter. KMG Fiduciary Partners LLC now owns 93,295 shares of the wireless technology company’s stock valued at $14,332,000 after purchasing an additional 3,989 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in QUALCOMM in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.2 %

NASDAQ QCOM opened at $164.94 on Friday. The company has a market cap of $183.25 billion, a PE ratio of 18.31, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The stock has a 50 day moving average of $159.21 and a 200-day moving average of $169.34. 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 issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.90 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on QCOM shares. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Sanford C. Bernstein upped 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 equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The shares were 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 $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM 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.