QUALCOMM Incorporated (NASDAQ:QCOM) Position Raised by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 618,415 shares of the wireless technology company's stock after acquiring an additional 37,643 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.06% of QUALCOMM worth $92,698,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Brighton Jones LLC increased its stake in QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after buying an additional 9,343 shares during the period. Revolve Wealth Partners LLC increased its stake in QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after buying an additional 340 shares during the period. Proficio Capital Partners LLC increased its stake in QUALCOMM by 50.1% in the 4th quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock valued at $645,000 after buying an additional 1,401 shares during the period. Johnson Investment Counsel Inc. increased its stake in QUALCOMM by 1.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 32,025 shares of the wireless technology company's stock valued at $4,920,000 after buying an additional 361 shares during the period. Finally, Independent Advisor Alliance increased its stake in QUALCOMM by 7.1% in the 4th quarter. Independent Advisor Alliance now owns 45,471 shares of the wireless technology company's stock valued at $6,985,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred 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. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 in the last three months. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.2%

Shares of QCOM stock traded down $0.26 during trading hours on Thursday, hitting $159.09. 5,671,246 shares of the company were exchanged, compared to its average volume of 8,539,163. The firm has a market cap of $174.68 billion, a PE ratio of 16.20, a PEG ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $152.00 and a 200 day moving average of $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share 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 analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 EPS. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird dropped 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. Wells Fargo & Company dropped their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $186.39.

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.