City Holding Co. Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

City Holding Co. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,884 shares of the wireless technology company’s stock after purchasing an additional 199 shares during the period. City Holding Co.’s holdings in QUALCOMM were worth $996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM in the fourth quarter valued at $32,000. Cherry Tree Wealth Management LLC boosted its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in QUALCOMM in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Citigroup lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. UBS Group boosted their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Argus boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Benchmark restated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Activity

In other news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now owns 54 shares in the company, valued at approximately $9,802.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,185 shares of company stock worth $8,206,875. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM traded down $7.17 during trading on Monday, reaching $205.36. The stock had a trading volume of 3,069,952 shares, compared to its average volume of 9,161,930. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a 50 day moving average of $192.36 and a two-hundred day moving average of $167.43. The firm has a market capitalization of $229.18 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 2.62 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 (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 company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 45.70%.

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.