Ames National Corp Invests $673,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Ames National Corp purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,384 shares of the wireless technology company’s stock, valued at approximately $673,000.

A number of other institutional investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, CoreFirst Bank & Trust purchased a new stake in QUALCOMM during the fourth quarter valued at about $33,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $1,948,379 over the last three months. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $192.08.

QUALCOMM Price Performance

QCOM opened at $153.82 on Wednesday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The stock has a fifty day moving average price of $145.99 and a 200 day moving average price of $156.70. The stock has a market cap of $168.89 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.31%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

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.