First National Bank Sioux Falls Takes $230,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First National Bank Sioux Falls purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,592 shares of the wireless technology company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. boosted its stake in shares of QUALCOMM by 36.8% in the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after acquiring an additional 42,500 shares during the last quarter. Peoples Bank OH acquired a new position in QUALCOMM in the 4th quarter valued at about $219,000. HF Advisory Group LLC purchased a new position in shares of QUALCOMM in the third quarter valued at approximately $629,000. Bank Hapoalim BM boosted its holdings in QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the period. Finally, NewEdge Wealth LLC grew its position in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Cantor Fitzgerald lifted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Benchmark initiated coverage on QUALCOMM in a report on Tuesday. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Barclays raised their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.17 during midday trading on Tuesday, reaching $161.35. The company had a trading volume of 6,605,127 shares, compared to its average volume of 8,601,207. The company has a market capitalization of $180.07 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41. 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 fifty day simple moving average of $165.01 and a 200 day simple moving average of $143.47. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.