Wesbanco Bank Inc. Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wesbanco Bank Inc. lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,178 shares of the wireless technology company’s stock after selling 412 shares during the quarter. Wesbanco Bank Inc.’s holdings in QUALCOMM were worth $2,024,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of QCOM. Fred Alger Management LLC raised its holdings in QUALCOMM by 5.8% in the 2nd quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock worth $11,149,000 after purchasing an additional 3,078 shares during the period. APG Asset Management US Inc. boosted its holdings in QUALCOMM by 14.1% in the 2nd quarter. APG Asset Management US Inc. now owns 390,115 shares of the wireless technology company’s stock worth $78,035,000 after buying an additional 48,179 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of QUALCOMM during the second quarter worth about $9,326,000. Drucker Wealth 3.0 LLC bought a new position in QUALCOMM in the 2nd quarter worth approximately $1,431,000. Finally, Delta Investment Management LLC boosted its position in shares of QUALCOMM by 7.2% during the second quarter. Delta Investment Management LLC now owns 2,839 shares of the wireless technology company’s stock worth $565,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QCOM. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $174.36 on Friday. The company has a 50 day moving average price of $159.05 and a 200-day moving average price of $168.04. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The firm has a market cap of $193.71 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.95%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.