QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Bank OZK

Bank OZK lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,304 shares of the wireless technology company’s stock after selling 131 shares during the quarter. Bank OZK’s holdings in QUALCOMM were worth $354,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter valued at approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. 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. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Susquehanna reduced their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on 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 owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 1.8 %

Shares of NASDAQ:QCOM opened at $157.18 on Friday. The firm has a fifty day moving average of $164.94 and a two-hundred day moving average of $165.64. The firm has a market capitalization of $173.84 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued 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%. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.