Independence Bank of Kentucky Acquires 3,920 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Independence Bank of Kentucky lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 109.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,498 shares of the wireless technology company's stock after purchasing an additional 3,920 shares during the period. Independence Bank of Kentucky's holdings in QUALCOMM were worth $1,152,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of QCOM. Algert Global LLC acquired a new stake in QUALCOMM during the 2nd quarter valued at $366,000. Clearbridge Investments LLC increased its position in QUALCOMM by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 221,308 shares of the wireless technology company's stock valued at $44,080,000 after acquiring an additional 1,036 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of QUALCOMM by 28.0% in the second quarter. Centaurus Financial Inc. now owns 8,307 shares of the wireless technology company's stock worth $1,655,000 after acquiring an additional 1,819 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of QUALCOMM by 9.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 23,993 shares of the wireless technology company's stock valued at $4,080,000 after purchasing an additional 2,147 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of QUALCOMM by 6.5% in the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company's stock valued at $38,590,000 after purchasing an additional 13,888 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $206.57.

QUALCOMM Stock Up 1.6 %

Shares of NASDAQ QCOM traded up $2.81 during trading on Tuesday, hitting $173.05. 3,962,572 shares of the company traded hands, compared to its average volume of 7,302,582. The business's fifty day moving average is $160.99 and its 200 day moving average is $166.04. The firm has a market capitalization of $192.26 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 2.87 and a beta of 1.25. 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 fifty-two week low of $141.21 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is presently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company's stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company's stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock worth $4,000,870 in the last quarter. Insiders own 0.08% of the company's stock.

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.