Iowa State Bank Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Iowa State Bank grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,150 shares of the wireless technology company’s stock after buying an additional 176 shares during the quarter. Iowa State Bank’s holdings in QUALCOMM were worth $2,788,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at approximately $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter valued at approximately $30,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the 3rd quarter worth about $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $4.48 during trading hours on Monday, reaching $162.31. 4,604,353 shares of the company’s stock were exchanged, compared to its average volume of 5,107,164. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $180.33 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $136.03 and a 12 month high of $230.63. The business’s 50-day simple moving average is $160.64 and its two-hundred day simple moving average is $171.56.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Susquehanna reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.00.

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.