QUALCOMM, Inc. (QCOM) Stake Decreased by FineMark National Bank & Trust

FineMark National Bank & Trust lessened its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 19.0% during the 4th quarter, HoldingsChannel reports. The firm owned 7,149 shares of the wireless technology company’s stock after selling 1,675 shares during the period. FineMark National Bank & Trust’s holdings in QUALCOMM were worth $407,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Lavaca Capital LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $25,000. Csenge Advisory Group acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $28,000. Transamerica Financial Advisors Inc. increased its position in shares of QUALCOMM by 688.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 537 shares during the last quarter. Essex Savings Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $48,000. Finally, Hartford Financial Management Inc. increased its position in shares of QUALCOMM by 81.8% during the 4th quarter. Hartford Financial Management Inc. now owns 1,000 shares of the wireless technology company’s stock worth $57,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.

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QCOM has been the topic of several recent analyst reports. Bank of America lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Wednesday, October 31st. UBS Group lifted their target price on QUALCOMM from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 5th. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. BidaskClub downgraded QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Finally, Cowen reduced their target price on QUALCOMM from $80.00 to $73.00 and set an “outperform” rating for the company in a research note on Thursday, November 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $66.00.

QCOM opened at $52.99 on Tuesday. The firm has a market capitalization of $64.29 billion, a P/E ratio of 16.61, a PEG ratio of 1.67 and a beta of 1.17. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $76.50. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm’s quarterly revenue was down 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. On average, research analysts expect that QUALCOMM, Inc. will post 3.23 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 7th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $2.48 annualized dividend and a yield of 4.68%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In other news, President Cristiano R. Amon sold 18,323 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $60.23, for a total transaction of $1,103,594.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The disclosure for this sale can be found here. Insiders sold a total of 67,371 shares of company stock valued at $3,658,469 over the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

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QUALCOMM Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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