Busey Bank Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Busey Bank grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,522 shares of the wireless technology company’s stock after purchasing an additional 3,186 shares during the quarter. QUALCOMM makes up about 0.8% of Busey Bank’s holdings, making the stock its 28th largest position. Busey Bank’s holdings in QUALCOMM were worth $24,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at $26,000. CKW Financial Group acquired a new position in QUALCOMM in the 4th quarter valued at about $27,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on QCOM shares. Evercore ISI upped their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 33,383 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, 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. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.1 %

Shares of NASDAQ QCOM opened at $171.71 on Thursday. The firm’s 50 day moving average price is $159.76 and its 200 day moving average price is $166.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $190.77 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate 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 anticipate that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) 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.