DekaBank Deutsche Girozentrale Acquires 37,643 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

DekaBank Deutsche Girozentrale lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.5% in the first quarter, according to its most recent filing with the SEC. The firm 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 approximately 0.06% of QUALCOMM worth $92,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of 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 buying an additional 70 shares during the period. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter valued at $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter worth $30,000. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 transaction of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,310,735 in the last quarter. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 1.0%

Shares of QUALCOMM stock traded down $1.63 during trading on Friday, hitting $157.46. 5,902,662 shares of the company were exchanged, compared to its average volume of 8,528,665. 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 has a market capitalization of $172.89 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The firm's fifty 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm earned $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent analyst reports. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Citigroup lifted their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Monday. Loop Capital decreased their price objective 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. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus target price of $186.39.

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.