Farmers & Merchants Trust Co of Chambersburg PA Has $3.09 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Farmers & Merchants Trust Co of Chambersburg PA lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,121 shares of the wireless technology company’s stock after selling 357 shares during the period. QUALCOMM makes up about 1.2% of Farmers & Merchants Trust Co of Chambersburg PA’s holdings, making the stock its 28th biggest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in QUALCOMM were worth $3,091,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QCOM. State Street Corp increased its stake in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after acquiring an additional 498,284 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in QUALCOMM by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after acquiring an additional 110,828 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Up 1.1 %

Shares of QCOM opened at $172.15 on Friday. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63. The company has a market capitalization of $190.40 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. The firm’s 50 day simple moving average is $162.64 and its 200 day simple moving average is $165.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is currently owned by insiders.

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.