Cwm LLC Acquires 36,343 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CWM LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 26.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 173,848 shares of the wireless technology company's stock after purchasing an additional 36,343 shares during the period. CWM LLC's holdings in QUALCOMM were worth $26,705,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of 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 worth $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter worth about $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Down 2.0%

QCOM traded down $3.17 during trading hours on Monday, reaching $154.29. 7,372,003 shares of the company's stock traded hands, compared to its average volume of 8,458,124. The firm has a 50-day moving average price of $152.83 and a 200 day moving average price of $155.01. The firm has a market capitalization of $169.41 billion, a PE ratio of 15.71, a PEG ratio of 2.03 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09.

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

Analyst Ratings Changes

QCOM has been the subject of several recent analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Citigroup lifted their price objective on QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $186.39.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on 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 approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.