Alpha Cubed Investments LLC Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alpha Cubed Investments LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,678 shares of the wireless technology company's stock after purchasing an additional 16,266 shares during the period. Alpha Cubed Investments LLC's holdings in QUALCOMM were worth $24,682,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in QCOM. Davidson Investment Advisors raised its holdings in QUALCOMM by 2,246.6% during the 1st quarter. Davidson Investment Advisors now owns 66,878 shares of the wireless technology company's stock valued at $10,273,000 after buying an additional 64,028 shares during the last quarter. Planning Directions Inc. purchased a new stake in QUALCOMM in the first quarter worth $4,702,000. Abound Financial LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $39,000. Crossmark Global Holdings Inc. grew its stake in shares of QUALCOMM by 1.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 382,225 shares of the wireless technology company's stock worth $58,714,000 after buying an additional 6,607 shares during the last quarter. Finally, Centennial Bank AR grew its stake in shares of QUALCOMM by 47.5% in the first quarter. Centennial Bank AR now owns 618 shares of the wireless technology company's stock worth $95,000 after acquiring an additional 199 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,310,735 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on QCOM shares. Citigroup increased their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Monday. Susquehanna dropped their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Bank of America dropped their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $186.39.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.26 during trading hours on Thursday, reaching $159.09. 5,671,246 shares of the company traded hands, compared to its average volume of 8,525,694. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market cap of $174.68 billion, a P/E ratio of 16.20, a P/E/G ratio of 2.06 and a beta of 1.26. The firm has a 50-day moving average price of $152.00 and a 200 day moving average price of $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

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.