HTLF Bank Invests $388,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

HTLF Bank acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, Holdings Channel.com reports. The fund acquired 2,681 shares of the wireless technology company’s stock, valued at approximately $388,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% in the third 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 in the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at approximately $26,000. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the 3rd quarter worth approximately $29,000. Pacific Center for Financial Services acquired a new stake in QUALCOMM in the 1st quarter worth approximately $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in QUALCOMM during the 1st quarter worth approximately $32,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $157.63 on Friday. The stock has a market cap of $175.92 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a 50 day simple moving average of $164.87 and a 200-day simple moving average of $142.66. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, analysts expect that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 46.38%.

Analysts Set New Price Targets

QCOM has been the subject of several research reports. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity Group boosted their price target on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Barclays raised their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.90.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at approximately $2,747,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 over the last 90 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.