QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,090 shares of the wireless technology company’s stock after selling 247 shares during the quarter. OLD Second National Bank of Aurora’s holdings in QUALCOMM were worth $2,164,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of QCOM. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC lifted its holdings in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $2,721,882,000. Amundi grew its holdings in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Susquehanna lowered their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $190.28.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $153.63 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $225.90. The business has a 50 day moving average price of $147.30 and a two-hundred day moving average price of $155.05. The firm has a market cap of $168.69 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.