Hohimer Wealth Management LLC Buys 3,709 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hohimer Wealth Management LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,281 shares of the wireless technology company's stock after purchasing an additional 3,709 shares during the period. Hohimer Wealth Management LLC's holdings in QUALCOMM were worth $3,730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Catalyst Financial Partners LLC increased its position in shares of QUALCOMM by 4.6% during the 1st quarter. Catalyst Financial Partners LLC now owns 11,121 shares of the wireless technology company's stock valued at $1,708,000 after purchasing an additional 486 shares during the last quarter. Signaturefd LLC grew its position in QUALCOMM by 7.9% during the first quarter. Signaturefd LLC now owns 19,964 shares of the wireless technology company's stock valued at $3,067,000 after buying an additional 1,465 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in QUALCOMM by 4.4% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,662 shares of the wireless technology company's stock valued at $1,945,000 after buying an additional 533 shares during the last quarter. Aurora Investment Counsel increased its holdings in QUALCOMM by 13.4% during the first quarter. Aurora Investment Counsel now owns 15,998 shares of the wireless technology company's stock valued at $2,457,000 after buying an additional 1,895 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in QUALCOMM by 3.5% in the first quarter. Bleakley Financial Group LLC now owns 34,563 shares of the wireless technology company's stock worth $5,309,000 after acquiring an additional 1,159 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Citigroup increased their target price on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Finally, Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $186.39.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider owned 22,793 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,310,735 over the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QUALCOMM stock traded down $3.17 during mid-day trading on Monday, reaching $154.29. 7,372,003 shares of the company's stock traded hands, compared to its average volume of 8,458,124. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. 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 50 day moving average of $152.83 and a two-hundred day moving average of $155.01. The company has a market cap of $169.41 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.03 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the firm posted $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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.