Bank Hapoalim BM Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Bank Hapoalim BM cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,734 shares of the wireless technology company's stock after selling 3,782 shares during the period. Bank Hapoalim BM's holdings in QUALCOMM were worth $2,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at approximately $27,000. Banque Transatlantique SA acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake 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 acquiring an additional 70 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on QCOM shares. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital lowered their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One equities research 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. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $186.39.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.63 during trading on Friday, hitting $157.46. 5,902,831 shares of the company's stock were exchanged, compared to its average volume of 8,528,385. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The business has a 50-day simple moving average of $152.83 and a 200-day simple moving average of $155.06. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The stock has a market capitalization of $172.89 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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 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 analysts' expectations of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction 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 completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock valued at $8,310,735. Corporate insiders own 0.08% of the company's stock.

About QUALCOMM

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.