Cerity Partners LLC Has $89.76 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cerity Partners LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,334 shares of the wireless technology company's stock after buying an additional 62,968 shares during the quarter. Cerity Partners LLC owned 0.05% of QUALCOMM worth $89,760,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Eagle Strategies LLC grew its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. lifted its position in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares during the period. PDS Planning Inc boosted its holdings in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after purchasing an additional 64 shares during the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after purchasing an additional 65 shares during the last quarter. Finally, Umpqua Bank grew its position in QUALCOMM by 4.2% in the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 67 shares during the period. Institutional investors own 74.35% of the company's stock.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup increased their price target on QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Monday. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital dropped their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $186.39.

QUALCOMM Trading Down 0.2%

QUALCOMM stock opened at $159.09 on Friday. 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 firm's 50 day moving average price is $152.48 and its 200-day moving average price is $155.07. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The stock has a market cap of $174.68 billion, a P/E ratio of 16.20, a PEG ratio of 2.06 and a beta of 1.26.

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

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.

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