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

by · The Cerbat Gem

Busey Bank raised its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,336 shares of the wireless technology company’s stock after purchasing an additional 3,534 shares during the quarter. QUALCOMM accounts for approximately 0.9% of Busey Bank’s portfolio, making the stock its 28th largest position. Busey Bank’s holdings in QUALCOMM were worth $26,415,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. HWG Holdings LP purchased a new position in QUALCOMM in the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the second quarter worth $32,000. Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after acquiring an additional 74 shares during the period. Finally, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the third quarter valued at $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock valued at $3,679,407. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ:QCOM opened at $168.10 on Friday. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock has a market cap of $187.26 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.74 and a beta of 1.28. The firm has a fifty day moving average price of $169.30 and a 200 day moving average price of $182.15.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Analyst Ratings Changes

Several research firms recently commented on QCOM. Susquehanna lowered their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research note on Monday. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Rosenblatt Securities raised their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Finally, Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

Read Our Latest Analysis on QUALCOMM

QUALCOMM Company Profile

(Free Report)

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.

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