Independence Bank of Kentucky Has $682,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Independence Bank of Kentucky decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,718 shares of the wireless technology company’s stock after selling 260 shares during the period. Independence Bank of Kentucky’s holdings in QUALCOMM were worth $682,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the period. State Street Corp increased its stake in QUALCOMM by 1.1% during the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock valued at $5,837,985,000 after acquiring an additional 549,861 shares during the period. Moneta Group Investment Advisors LLC increased its stake in QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after acquiring an additional 24,566,978 shares during the period. Morgan Stanley increased its stake in QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after acquiring an additional 3,929,586 shares during the period. Finally, Alliancebernstein L.P. increased its stake in QUALCOMM by 7.0% during the second quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after acquiring an additional 1,178,546 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now directly owns 4,972 shares of the company’s stock, valued at approximately $691,108. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now directly owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,360 shares of company stock worth $6,803,208. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Canaccord Genuity Group lifted their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Monday, March 4th. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $119.00 to $132.00 in a report on Friday, December 8th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

Check Out Our Latest Analysis on QUALCOMM

QUALCOMM Price Performance

QCOM stock opened at $171.04 on Wednesday. The stock has a 50-day moving average price of $159.20 and a two-hundred day moving average price of $137.68. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $190.88 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Equities analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.87%. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

QUALCOMM Company 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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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