DekaBank Deutsche Girozentrale Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

DekaBank Deutsche Girozentrale increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 618,415 shares of the wireless technology company's stock after acquiring an additional 37,643 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of QUALCOMM worth $92,698,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Banque Transatlantique SA bought a new stake in QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% during the 1st 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 bought a new position in QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the fourth quarter worth $30,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $188.00.

QUALCOMM Trading Down 0.1%

Shares of QCOM traded down $0.10 during midday trading on Wednesday, hitting $159.35. The stock had a trading volume of 4,187,668 shares, compared to its average volume of 8,523,941. 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 stock's 50 day moving average is $151.78 and its 200 day moving average is $155.04. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The firm has a market cap of $174.97 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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 company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Activity

In other QUALCOMM news, 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 value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business'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 sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock worth $8,310,735. Company 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.