Grove Bank & Trust Acquires 275 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Grove Bank & Trust lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,966 shares of the wireless technology company’s stock after acquiring an additional 275 shares during the quarter. Grove Bank & Trust’s holdings in QUALCOMM were worth $456,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter valued at about $30,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the third quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM during the third quarter worth approximately $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Wells Fargo & Company increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. One research 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 company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.9 %

QUALCOMM stock opened at $164.56 on Monday. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The firm’s fifty day moving average price is $158.85 and its two-hundred day moving average price is $168.82. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared 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 yield of 2.07%. QUALCOMM’s payout ratio is currently 37.82%.

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.