QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Boosted by Capital Research Global Investors

Capital Research Global Investors lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 525.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,413,495 shares of the wireless technology company’s stock after purchasing an additional 1,187,531 shares during the quarter. Capital Research Global Investors’ holdings in QUALCOMM were worth $217,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TBH Global Asset Management LLC raised its stake in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc grew its holdings in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares in the last quarter. CFS Investment Advisory Services LLC raised its position in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after acquiring an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted its holdings in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after acquiring an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 648 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the transaction, the chief financial officer now directly owns 56,445 shares of the company’s stock, valued at approximately $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 0.6 %

Shares of NASDAQ QCOM opened at $136.54 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm has a market capitalization of $151.01 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average of $153.10 and a 200-day moving average of $160.28.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on QCOM shares. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $201.21.

QUALCOMM Company 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.