Stock Yards Bank & Trust Co. Has $5.17 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stock Yards Bank & Trust Co. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,628 shares of the wireless technology company’s stock after selling 899 shares during the period. Stock Yards Bank & Trust Co.’s holdings in QUALCOMM were worth $5,166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter worth about $26,000. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the first quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock opened at $154.72 on Friday. The stock’s fifty day moving average price is $145.85 and its two-hundred day moving average price is $155.15. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $169.88 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the company earned $2.44 EPS. The company’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at approximately $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,464 shares of company stock worth $8,135,164. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $189.88.

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.