QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by Aurora Investment Counsel

Aurora Investment Counsel boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,998 shares of the wireless technology company's stock after purchasing an additional 1,895 shares during the period. QUALCOMM makes up 1.4% of Aurora Investment Counsel's portfolio, making the stock its 17th biggest position. Aurora Investment Counsel's holdings in QUALCOMM were worth $2,457,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth about $27,000. Banque Transatlantique SA acquired a new position in QUALCOMM in the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

QCOM stock traded down $3.17 during trading hours on Monday, hitting $154.29. 7,372,003 shares of the stock traded hands, compared to its average volume of 8,458,124. The stock has a 50-day simple moving average of $152.83 and a 200 day simple moving average of $155.01. The company has a market cap of $169.41 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.03 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results 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 net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the company earned $2.44 EPS. QUALCOMM's revenue was up 17.0% on a year-over-year basis. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,310,735 over the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI reduced their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. TD Cowen lowered their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company cut their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $186.39.

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.