Busey Bank Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Busey Bank grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,522 shares of the wireless technology company's stock after purchasing an additional 3,186 shares during the quarter. QUALCOMM comprises about 0.8% of Busey Bank's portfolio, making the stock its 28th biggest position. Busey Bank's holdings in QUALCOMM were worth $24,352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock valued at $475,000 after acquiring an additional 61 shares in the last quarter. Blossom Wealth Management lifted its holdings in QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company's stock valued at $434,000 after purchasing an additional 64 shares during the last quarter. Delta Financial Advisors LLC boosted its position in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company's stock worth $548,000 after purchasing an additional 65 shares during the period. Toth Financial Advisory Corp increased its stake in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after purchasing an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC raised its position in shares of QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after purchasing an additional 65 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 0.1 %

QUALCOMM stock traded up $0.22 during trading hours on Thursday, reaching $171.93. The company had a trading volume of 5,884,850 shares, compared to its average volume of 7,468,226. The firm has a market cap of $191.01 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a 50-day moving average price of $160.11 and a 200 day moving average price of $166.88.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM's dividend payout ratio is currently 37.82%.

Wall Street Analyst Weigh In

QCOM has been the subject of several analyst reports. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They issued a "hold" rating and a $180.00 price target for the company. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, Benchmark reissued a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.57.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company's stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. 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 ninety days. 0.08% of the stock is owned by insiders.

About QUALCOMM

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.