Simmons Bank Sells 162 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Simmons Bank lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,710 shares of the wireless technology company’s stock after selling 162 shares during the period. Simmons Bank’s holdings in QUALCOMM were worth $3,642,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $29,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $38,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Susquehanna reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Read Our Latest Analysis on QUALCOMM

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated 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 $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock valued at $7,713,734 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Up 0.5 %

NASDAQ:QCOM opened at $162.10 on Thursday. The company has a market cap of $179.28 billion, a PE ratio of 17.32, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $164.77 and its two-hundred day moving average is $165.76.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

QUALCOMM Profile

(Free Report)

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.

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