Commerce Bank Sells 12,668 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Commerce Bank trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 151,685 shares of the wireless technology company’s stock after selling 12,668 shares during the quarter. Commerce Bank’s holdings in QUALCOMM were worth $21,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of QCOM. Financial Gravity Asset Management Inc. boosted its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC lifted its position in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM in the fourth quarter worth $35,000. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,074 shares of company stock worth $12,258,386. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 3.9 %

QCOM stock traded up $7.85 during midday trading on Friday, reaching $209.61. The stock had a trading volume of 6,937,070 shares, compared to its average volume of 8,677,421. The business has a fifty day simple moving average of $174.64 and a two-hundred day simple moving average of $154.38. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $233.92 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.51 and a beta of 1.33. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $211.30.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, research analysts expect that QUALCOMM Incorporated will post 7.81 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.62%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Argus raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. raised their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group increased their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.48.

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.