City Holding Co. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

City Holding Co. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,829 shares of the wireless technology company’s stock after purchasing an additional 291 shares during the quarter. City Holding Co.’s holdings in QUALCOMM were worth $1,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its holdings in QUALCOMM by 11.6% during the 2nd quarter. Pacer Advisors Inc. now owns 177,040 shares of the wireless technology company’s stock valued at $35,263,000 after purchasing an additional 18,379 shares in the last quarter. Kowal Investment Group LLC lifted its stake in shares of QUALCOMM by 31.4% in the second quarter. Kowal Investment Group LLC now owns 5,002 shares of the wireless technology company’s stock worth $996,000 after acquiring an additional 1,195 shares in the last quarter. Profund Advisors LLC boosted its holdings in QUALCOMM by 6.3% in the second quarter. Profund Advisors LLC now owns 182,012 shares of the wireless technology company’s stock valued at $36,253,000 after purchasing an additional 10,807 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of QUALCOMM by 86.7% during the 2nd quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock valued at $545,575,000 after buying an additional 1,272,191 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in shares of QUALCOMM by 4,438.9% during the second quarter. Frank Rimerman Advisors LLC now owns 21,923 shares of the wireless technology company’s stock worth $4,367,000 after buying an additional 21,440 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $164.56 on Monday. The firm has a market cap of $182.83 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year 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 business has a fifty day simple moving average of $158.85 and a 200 day simple moving average of $168.82.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business 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 dividend yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

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.