Crews Bank & Trust Invests $2.26 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Crews Bank & Trust purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,735 shares of the wireless technology company's stock, valued at approximately $2,264,000.

A number of other institutional investors also recently made changes to their positions in QCOM. Susquehanna Fundamental Investments LLC acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $896,000. Ascent Group LLC grew its position in QUALCOMM by 13.4% in the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company's stock worth $564,000 after buying an additional 335 shares during the last quarter. Algert Global LLC bought a new position in shares of QUALCOMM in the second quarter valued at $366,000. Advisory Alpha LLC lifted its position in shares of QUALCOMM by 33.3% during the 2nd quarter. Advisory Alpha LLC now owns 2,499 shares of the wireless technology company's stock valued at $498,000 after acquiring an additional 624 shares during the last quarter. Finally, New Century Financial Group LLC acquired a new position in shares of QUALCOMM in the 2nd quarter worth $360,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock traded up $0.22 during trading hours on Thursday, hitting $171.93. 5,923,358 shares of the stock were exchanged, compared to its average volume of 7,468,792. The stock has a market capitalization of $191.01 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.84 and a beta of 1.25. The business's 50-day moving average is $160.11 and its two-hundred day moving average is $166.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (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 business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Equities research analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given 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 37.82%.

Analyst Ratings Changes

A number of research firms recently commented on QCOM. Benchmark reaffirmed a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Finally, Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. One research 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.57.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the company's 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 completion of the sale, the chief accounting officer now directly owns 94 shares of the company's stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently 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.