Bank of Stockton Has $1.78 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Bank of Stockton raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,589 shares of the wireless technology company’s stock after purchasing an additional 209 shares during the quarter. Bank of Stockton’s holdings in QUALCOMM were worth $1,780,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. DLK Investment Management LLC raised its position in QUALCOMM by 3.7% in the 1st quarter. DLK Investment Management LLC now owns 24,926 shares of the wireless technology company’s stock worth $3,829,000 after purchasing an additional 895 shares during the last quarter. Baugh & Associates LLC lifted its stake in shares of QUALCOMM by 20.7% during the first quarter. Baugh & Associates LLC now owns 32,364 shares of the wireless technology company’s stock valued at $4,741,000 after acquiring an additional 5,542 shares during the period. Balefire LLC boosted its holdings in QUALCOMM by 36.2% in the first quarter. Balefire LLC now owns 2,365 shares of the wireless technology company’s stock valued at $363,000 after acquiring an additional 629 shares during the last quarter. KPP Advisory Services LLC raised its holdings in QUALCOMM by 234.0% during the 1st quarter. KPP Advisory Services LLC now owns 4,592 shares of the wireless technology company’s stock worth $705,000 after purchasing an additional 3,217 shares during the last quarter. Finally, LifeSteps Financial Inc. boosted its stake in shares of QUALCOMM by 3.3% in the 1st quarter. LifeSteps Financial Inc. now owns 3,395 shares of the wireless technology company’s stock valued at $522,000 after purchasing an additional 107 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. Wells Fargo & Company cut their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, TD Cowen lowered their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $186.96.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock valued at $8,135,164 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $155.93 on Thursday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The stock has a market cap of $171.21 billion, a PE ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.26. The firm has a 50-day moving average of $148.57 and a 200-day moving average of $154.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last issued 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 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 analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The business’s revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date 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 yield of 2.28%. QUALCOMM’s payout ratio is currently 36.25%.

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.