Lbp Am Sa Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Lbp Am Sa grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 161.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,807 shares of the wireless technology company's stock after purchasing an additional 101,691 shares during the quarter. Lbp Am Sa's holdings in QUALCOMM were worth $25,316,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rehmann Capital Advisory Group grew its holdings in QUALCOMM by 41.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 14,614 shares of the wireless technology company's stock valued at $2,245,000 after buying an additional 4,252 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of QUALCOMM by 34.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 672 shares of the wireless technology company's stock valued at $94,000 after acquiring an additional 171 shares during the last quarter. Aspen Wealth Strategies LLC boosted its position in shares of QUALCOMM by 16.4% during the 1st quarter. Aspen Wealth Strategies LLC now owns 2,038 shares of the wireless technology company's stock valued at $313,000 after acquiring an additional 287 shares during the last quarter. Dogwood Wealth Management LLC boosted its position in shares of QUALCOMM by 10.7% during the 1st quarter. Dogwood Wealth Management LLC now owns 4,578 shares of the wireless technology company's stock valued at $703,000 after acquiring an additional 443 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of QUALCOMM by 4.2% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 16,465 shares of the wireless technology company's stock valued at $2,529,000 after acquiring an additional 666 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.9%

QCOM stock opened at $159.45 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The business's 50-day moving average is $151.78 and its two-hundred day moving average is $155.04. 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 company has a market cap of $175.08 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 2.04 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 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 earnings per share. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QCOM shares. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Robert W. Baird dropped 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. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $188.00.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the 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 in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,310,735 over the last quarter. 0.08% of the stock is currently owned by company 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.

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