Genus Capital Management Inc. Acquires Shares of 16,728 QUALCOMM Incorporated (NASDAQ:QCOM)

Genus Capital Management Inc. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,728 shares of the wireless technology company's stock, valued at approximately $2,570,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Banque Transatlantique SA purchased a new stake in QUALCOMM in the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter worth $30,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QCOM stock opened at $159.09 on Friday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm has a market capitalization of $174.68 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.06 and a beta of 1.26. The stock's 50-day simple moving average is $152.48 and its 200-day simple moving average is $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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 company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% 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, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last 90 days. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Susquehanna dropped their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Citigroup boosted 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. Finally, Robert W. Baird lowered their price target 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.

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