FineMark National Bank & Trust Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

FineMark National Bank & Trust lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,868 shares of the wireless technology company’s stock after selling 708 shares during the quarter. FineMark National Bank & Trust’s holdings in QUALCOMM were worth $11,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. grew its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM during the 4th quarter worth about $32,000. Cherry Tree Wealth Management LLC lifted its holdings in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the period. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 689 shares of QUALCOMM stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 689 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. Insiders sold 70,074 shares of company stock valued at $12,258,386 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $2.50 during midday trading on Thursday, hitting $200.43. 9,844,662 shares of the company’s stock were exchanged, compared to its average volume of 8,651,229. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $207.95. The company’s 50 day moving average price is $173.97 and its 200 day moving average price is $154.04. The firm has a market capitalization of $223.68 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 2.48 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, analysts predict that QUALCOMM Incorporated will post 7.81 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.70%. QUALCOMM’s payout ratio is 43.01%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a report on Thursday, May 2nd. HSBC boosted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. TD Cowen boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.48.

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.