Park National Corp OH Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Park National Corp OH lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 33.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,024 shares of the wireless technology company’s stock after selling 8,539 shares during the quarter. Park National Corp OH’s holdings in QUALCOMM were worth $2,882,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC lifted its holdings in shares of QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $227.09 on Wednesday. The company has a market cap of $253.43 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.71 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The business has a fifty day simple moving average of $189.61 and a 200-day simple moving average of $165.57.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock valued at $8,206,875. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. HSBC raised their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho lifted their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Canaccord Genuity Group lifted their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. KeyCorp lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Morgan Stanley lifted their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.74.

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.