16,728 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Genus Capital Management Inc.

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

A number of other large investors also recently modified their holdings of the stock. Eagle Strategies LLC boosted its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after buying an additional 59 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after acquiring an additional 59 shares during the period. PDS Planning Inc raised its stake in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares during the period. Cassady Schiller Wealth Management LLC raised its stake in shares of QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares during the period. Finally, Umpqua Bank raised its stake in shares of QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock worth $264,000 after buying an additional 67 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on QCOM shares. 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. Bank of America cut their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $186.39.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Wednesday, July 2nd. The stock was 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 $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on 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 worth $8,310,735 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

NASDAQ QCOM traded down $1.63 on Friday, reaching $157.46. 5,902,831 shares of the stock traded hands, compared to its average volume of 8,528,385. The firm's fifty day simple moving average is $152.48 and its 200 day simple moving average is $155.07. 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 company has a market cap of $172.89 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 2.05 and a beta of 1.26. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the firm posted $2.44 EPS. The company's quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM 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.