Amarillo National Bank Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Amarillo National Bank cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,432 shares of the wireless technology company’s stock after selling 190 shares during the period. Amarillo National Bank’s holdings in QUALCOMM were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the third quarter valued at approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the fourth quarter worth $27,000. Planning Capital Management Corp raised its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the third quarter worth $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $172.23 on Friday. The company’s 50 day simple moving average is $163.13 and its 200-day simple moving average is $165.50. The company has a market capitalization of $190.49 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock valued at $7,785,781 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on QCOM shares. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

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.