Crux Wealth Advisors acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,959 shares of the wireless technology company's stock, valued at approximately $455,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. Norges Bank bought a new stake in QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi raised its position in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the fourth quarter worth approximately $527,053,000. Franklin Resources Inc. increased its stake in QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after acquiring an additional 709,644 shares during the period. Finally, Vanguard Group Inc. increased its stake in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after acquiring an additional 707,468 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $201.21.
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Insider Buying and Selling
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 648 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. This trade represents a 1.13 % 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, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $5,047,052 over the last 90 days. Company insiders own 0.08% of the company's stock.
QUALCOMM Trading Down 0.4 %
Shares of QCOM traded down $0.59 during mid-day trading on Tuesday, reaching $138.60. 6,320,581 shares of the company were exchanged, compared to its average volume of 8,863,218. The business has a 50 day simple moving average of $155.76 and a two-hundred day simple moving average of $161.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market capitalization of $153.29 billion, a PE ratio of 14.81, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results 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%. On average, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Company Profile
(Free Report)
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.
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