CORDA Investment Management LLC. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CORDA Investment Management LLC. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,950 shares of the wireless technology company's stock after purchasing an additional 3,623 shares during the quarter. CORDA Investment Management LLC.'s holdings in QUALCOMM were worth $2,911,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in QCOM. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter worth $2,721,882,000. GAMMA Investing LLC lifted its stake in QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the period. Northern Trust Corp lifted its stake in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in QUALCOMM in the fourth quarter worth $204,085,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QCOM shares. Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Evercore ISI decreased their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Finally, TD Cowen decreased their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $188.00.

QUALCOMM Trading Up 0.9%

QUALCOMM stock opened at $159.45 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The stock has a market capitalization of $175.08 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The business's fifty day moving average is $151.78 and its 200 day moving average is $155.04.

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

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was 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 directly 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. Over the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. Insiders own 0.08% of the company's stock.

QUALCOMM 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.

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