First Interstate Bank Sells 13,663 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Interstate Bank decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 71.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,363 shares of the wireless technology company's stock after selling 13,663 shares during the period. First Interstate Bank's holdings in QUALCOMM were worth $824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake 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 valued at $26,000 after buying an additional 70 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.10 during mid-day trading on Wednesday, hitting $159.35. The company's stock had a trading volume of 4,187,668 shares, compared to its average volume of 8,537,101. 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 stock has a market capitalization of $174.97 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.06 and a beta of 1.26. The stock's fifty day moving average price is $151.78 and its two-hundred day moving average price is $155.04. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $188.00.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was 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 over the last three months. 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.