1ST Source Bank Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

1ST Source Bank lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,058 shares of the wireless technology company’s stock after selling 194 shares during the quarter. 1ST Source Bank’s holdings in QUALCOMM were worth $3,696,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 3.1 %

QUALCOMM stock opened at $156.58 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a market cap of $173.18 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock’s 50 day moving average price is $164.68 and its 200 day moving average price is $164.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QCOM shares. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Finally, Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.