First Citizens Bank & Trust Co. Purchases 1,312 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Citizens Bank & Trust Co. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.0% in the fourth quarter, HoldingsChannel reports. The firm owned 5,840 shares of the wireless technology company’s stock after buying an additional 1,312 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in QUALCOMM were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Precedent Wealth Partners LLC grew its position in shares of QUALCOMM by 3.0% during the 4th quarter. Precedent Wealth Partners LLC now owns 8,389 shares of the wireless technology company’s stock valued at $1,289,000 after acquiring an additional 247 shares during the period. AlphaMark Advisors LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $86,000. Insight Inv LLC lifted its stake in shares of QUALCOMM by 4.6% during the 4th quarter. Insight Inv LLC now owns 17,179 shares of the wireless technology company’s stock valued at $2,639,000 after buying an additional 758 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC lifted its stake in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after purchasing an additional 65 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. UBS Group increased their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.5 %

NASDAQ:QCOM opened at $171.18 on Tuesday. The company has a 50-day moving average price of $159.49 and a 200-day moving average price of $167.27. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 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 market cap of $190.18 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Equities analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

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.