Community Bank & Trust Waco Texas Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Community Bank & Trust Waco Texas decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,671 shares of the wireless technology company’s stock after selling 588 shares during the period. Community Bank & Trust Waco Texas’ holdings in QUALCOMM were worth $2,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp raised its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after purchasing an additional 498,284 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after purchasing an additional 110,828 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on QCOM shares. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $171.36 on Tuesday. The firm has a fifty day moving average of $162.15 and a two-hundred day moving average of $165.55. The stock has a market capitalization of $189.52 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $148.41 and a 52 week 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 issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate 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 predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,268 shares of company stock worth $7,276,381 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.