Migdal Insurance & Financial Holdings Ltd. Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,151 shares of the wireless technology company’s stock after selling 1,210 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in QUALCOMM were worth $3,507,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Milestone Investment Advisors LLC purchased a new stake in QUALCOMM in the 1st quarter valued at $26,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares in the last quarter. Fortitude Family Office LLC acquired a new position in QUALCOMM during the 4th quarter worth about $35,000. Finally, Pacific Center for Financial Services acquired a new position in QUALCOMM during the 1st quarter worth about $31,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QUALCOMM stock traded down $3.65 during mid-day trading on Wednesday, hitting $164.93. 3,870,265 shares of the company were exchanged, compared to its average volume of 8,548,497. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business’s 50 day simple moving average is $164.11 and its two-hundred day simple moving average is $142.05. The company has a market capitalization of $184.06 billion, a P/E ratio of 24.24, a PEG ratio of 2.32 and a beta of 1.41. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

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

Insider Buying and Selling at QUALCOMM

In other QUALCOMM 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 transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,360 shares of company stock valued at $7,184,678. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler increased their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. KeyCorp increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Mizuho increased their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.90.

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.