Farmers & Merchants Trust Co of Chambersburg PA Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Farmers & Merchants Trust Co of Chambersburg PA decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,121 shares of the wireless technology company’s stock after selling 357 shares during the period. QUALCOMM makes up 1.2% of Farmers & Merchants Trust Co of Chambersburg PA’s investment portfolio, making the stock its 28th largest holding. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in QUALCOMM were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. State Street Corp boosted its position in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after purchasing an additional 498,284 shares during the period. Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after buying an additional 110,828 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock valued at $7,785,781 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on QCOM shares. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Evercore ISI reduced their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 1.1 %

NASDAQ QCOM opened at $172.15 on Friday. The stock’s 50-day moving average price is $162.64 and its 200-day moving average price is $165.50. The company has a market capitalization of $190.40 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $148.90 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s payout ratio is presently 36.32%.

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.