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

First Interstate Bank decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 71.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Eagle Strategies LLC increased its position in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. increased its position in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares during the period. PDS Planning Inc increased its position in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares during the period. Cassady Schiller Wealth Management LLC increased its position in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after purchasing an additional 65 shares during the period. Finally, Umpqua Bank increased its position in QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 67 shares during the period. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup increased their price target on QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $186.39.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction 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 transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at $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. Insiders have sold 424,099 shares of company stock valued at $8,310,735 in the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Down 1.0%

Shares of QCOM traded down $1.63 during trading hours on Friday, reaching $157.46. The stock had a trading volume of 5,902,831 shares, compared to its average volume of 8,533,651. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The firm has a 50-day simple moving average of $152.83 and a 200 day simple moving average of $155.03. 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 $172.89 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 2.03 and a beta of 1.26.

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, topping analysts' consensus estimates of $2.82 by $0.03. The firm 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 business's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

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.