Fairfield Bush & CO. Purchases 827 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fairfield Bush & CO. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,240 shares of the wireless technology company’s stock after buying an additional 827 shares during the period. QUALCOMM comprises about 2.3% of Fairfield Bush & CO.’s portfolio, making the stock its 11th biggest holding. Fairfield Bush & CO.’s holdings in QUALCOMM were worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Norges Bank bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $527,053,000. Franklin Resources Inc. boosted its stake in shares of QUALCOMM by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after buying an additional 709,644 shares during the period. Finally, Vanguard Group Inc. grew its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 2.1 %

QCOM opened at $135.74 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a market capitalization of $150.13 billion, a PE ratio of 14.50, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company’s 50-day moving average is $154.50 and its 200 day moving average is $160.83.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on QCOM shares. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $201.21.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. Corporate insiders own 0.08% of the company’s stock.

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.