Capital Analysts LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Analysts LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,594 shares of the wireless technology company’s stock after acquiring an additional 483 shares during the period. Capital Analysts LLC’s holdings in QUALCOMM were worth $2,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. lifted its stake in shares of QUALCOMM by 102.5% in the 3rd 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. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $35,000. Finally, Pacific Center for Financial Services purchased a new position in shares of QUALCOMM in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock worth $7,184,678 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on QCOM. Canaccord Genuity Group raised their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Mizuho lifted their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Cantor Fitzgerald lifted their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $169.11 on Tuesday. The stock has a 50-day simple moving average of $163.62 and a two-hundred day simple moving average of $141.64. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market capitalization of $188.73 billion, a PE ratio of 24.61, a P/E/G ratio of 2.34 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. Analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

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.