Community Bank of Raymore Has $1.23 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Community Bank of Raymore reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,988 shares of the wireless technology company's stock after selling 1,973 shares during the quarter. QUALCOMM comprises about 1.0% of Community Bank of Raymore's portfolio, making the stock its 28th biggest position. Community Bank of Raymore's holdings in QUALCOMM were worth $1,227,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the period. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter valued at $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 3.9%

Shares of NASDAQ:QCOM opened at $153.73 on Wednesday. The stock's 50-day moving average price is $155.20 and its 200-day moving average price is $153.89. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The stock has a market capitalization of $165.87 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 2.16 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the firm earned $2.33 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Susquehanna reduced their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Bank of America reduced their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $181.10.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is currently owned by insiders.

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.

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