Parkside Financial Bank & Trust Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Parkside Financial Bank & Trust lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,054 shares of the wireless technology company’s stock after purchasing an additional 211 shares during the period. Parkside Financial Bank & Trust’s holdings in QUALCOMM were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the 3rd quarter worth about $29,000. Fortitude Family Office LLC acquired a new stake in QUALCOMM in the 4th quarter worth about $35,000. Cranbrook Wealth Management LLC boosted its holdings in QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. boosted its holdings in QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after buying an additional 163,963 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on QCOM. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. KeyCorp boosted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Benchmark assumed coverage on QUALCOMM in a report on Tuesday. They set a “buy” rating and a $200.00 target price on the stock. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Mizuho boosted their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.93 during mid-day trading on Tuesday, reaching $162.11. The company had a trading volume of 3,231,495 shares, compared to its average volume of 8,555,752. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market capitalization of $180.91 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. The stock’s 50-day simple moving average is $165.01 and its 200-day simple moving average is $143.47.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. QUALCOMM’s dividend payout ratio is currently 46.38%.

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.