1ST Source Bank Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

1ST Source Bank lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,058 shares of the wireless technology company’s stock after selling 194 shares during the period. 1ST Source Bank’s holdings in QUALCOMM were worth $3,696,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. Synergy Asset Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on QCOM. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Up 3.1 %

Shares of QCOM opened at $156.58 on Monday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a market capitalization of $173.18 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a fifty day simple moving average of $164.68 and a two-hundred day simple moving average of $164.40. 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 return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

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.