Central Pacific Bank Trust Division Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Central Pacific Bank Trust Division lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 84.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,210 shares of the wireless technology company's stock after selling 12,102 shares during the quarter. Central Pacific Bank Trust Division's holdings in QUALCOMM were worth $339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $29,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on QCOM shares. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $189.88.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on 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. Insiders sold a total of 425,064 shares of company stock valued at $8,381,948 in the last ninety days. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $0.67 during trading hours on Wednesday, reaching $149.61. The stock had a trading volume of 3,115,568 shares, compared to its average volume of 8,729,864. The firm has a market cap of $164.27 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a 50-day moving average of $143.88 and a 200-day moving average of $155.39.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.38%. QUALCOMM's dividend payout ratio is currently 36.25%.

QUALCOMM Company 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.