Cullen Frost Bankers Inc. Has $31.50 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Cullen Frost Bankers Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,800 shares of the wireless technology company's stock after selling 9,090 shares during the period. Cullen Frost Bankers Inc.'s holdings in QUALCOMM were worth $31,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peoples Bank OH acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $219,000. HF Advisory Group LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $629,000. Bank Hapoalim BM raised its holdings in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company's stock worth $5,123,000 after acquiring an additional 9,192 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company's stock worth $2,991,000 after acquiring an additional 11,285 shares during the last quarter. Finally, 1834 Investment Advisors Co. raised its holdings in shares of QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company's stock worth $6,591,000 after acquiring an additional 2,818 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $1.70 on Tuesday, hitting $180.15. The stock had a trading volume of 8,005,698 shares, compared to its average volume of 8,727,156. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $184.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The company has a market capitalization of $201.05 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The firm has a 50-day moving average of $168.62 and a 200-day moving average of $148.09.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM's dividend payout ratio is currently 43.01%.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of the firm's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,316 shares of company stock worth $7,796,128. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, May 2nd. KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Benchmark reaffirmed a "buy" rating and issued a $200.00 price objective on shares of QUALCOMM in a research report on Friday. Morgan Stanley increased their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. Finally, Rosenblatt Securities increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $180.48.

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.

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