Citizens Business Bank Has $2.98 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Citizens Business Bank lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 1st quarter, HoldingsChannel reports. The firm owned 17,625 shares of the wireless technology company’s stock after selling 479 shares during the period. Citizens Business Bank’s holdings in QUALCOMM were worth $2,984,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. grew its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC acquired a new stake in QUALCOMM in the first quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC grew its stake 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 valued at $34,000 after acquiring an additional 115 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its stake in 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. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,185 shares of company stock worth $6,860,715. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $199.18 on Monday. The firm has a market cap of $222.28 billion, a PE ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.27. The stock’s fifty day moving average price is $195.82 and its two-hundred day moving average price is $169.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for 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%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. QUALCOMM’s payout ratio is 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wolfe Research raised their target price on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Barclays raised their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

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.