Central Pacific Bank Trust Division Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Central Pacific Bank Trust Division raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,721 shares of the wireless technology company’s stock after buying an additional 484 shares during the period. Central Pacific Bank Trust Division’s holdings in QUALCOMM were worth $2,333,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $27,000. HWG Holdings LP purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $168.32 on Thursday. The firm has a market capitalization of $187.51 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. The business’s fifty day moving average price is $168.35 and its 200 day moving average price is $182.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research note on Wednesday, July 17th. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 25,245 shares of company stock worth $4,296,237 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.