Independence Bank of Kentucky Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Independence Bank of Kentucky increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 109.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,498 shares of the wireless technology company’s stock after purchasing an additional 3,920 shares during the period. Independence Bank of Kentucky’s holdings in QUALCOMM were worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Blossom Wealth Management lifted its holdings in shares of QUALCOMM by 3.7% in the fourth quarter. Blossom Wealth Management now owns 2,646 shares of the wireless technology company’s stock worth $406,000 after buying an additional 95 shares in the last quarter. KG&L Capital Management LLC lifted its stake in QUALCOMM by 5.6% in the 4th quarter. KG&L Capital Management LLC now owns 9,048 shares of the wireless technology company’s stock worth $1,390,000 after purchasing an additional 480 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. Verus Financial Partners Inc. purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $1,201,000. Finally, Everett Harris & Co. CA increased its holdings in shares of QUALCOMM by 3.4% in the fourth quarter. Everett Harris & Co. CA now owns 32,543 shares of the wireless technology company’s stock worth $4,999,000 after purchasing an additional 1,057 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on QCOM shares. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Price Performance

Shares of QCOM stock opened at $172.93 on Friday. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month 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. The stock has a fifty day simple moving average of $160.76 and a two-hundred day simple moving average of $166.67. The stock has a market capitalization of $192.13 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, analysts predict that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. Company insiders own 0.08% of the company’s stock.

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.