Financial Counselors Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Counselors Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,168 shares of the wireless technology company's stock after purchasing an additional 12,229 shares during the period. Financial Counselors Inc.'s holdings in QUALCOMM were worth $32,438,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares in the last quarter. Proficio Capital Partners LLC increased its stake in QUALCOMM by 50.1% during the 4th quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock valued at $645,000 after purchasing an additional 1,401 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in QUALCOMM by 4.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 44,575 shares of the wireless technology company's stock valued at $7,537,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at approximately $156,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM traded down $0.10 during midday trading on Wednesday, hitting $159.35. 4,187,668 shares of the company traded hands, compared to its average volume of 8,537,101. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $174.97 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The business has a 50 day simple moving average of $152.00 and a two-hundred day simple moving average of $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The business 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 company's revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Robert W. Baird cut their price target 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. Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One equities 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $188.00.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% 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. Corporate insiders own 0.08% of the company's stock.

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.