BankPlus Trust Department Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

BankPlus Trust Department acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 306 shares of the wireless technology company’s stock, valued at approximately $47,000.

Other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at $29,000. Planning Capital Management Corp lifted its position in shares of 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 period. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 0.1 %

QCOM opened at $161.22 on Wednesday. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a market cap of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business’s 50-day simple moving average is $164.59 and its 200-day simple moving average is $165.79.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock valued at $7,713,734 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $205.32.

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.