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

LBP AM SA raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 161.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,807 shares of the wireless technology company's stock after buying 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 quarter.

Several other large investors have also recently made changes to their positions in the business. Banque Transatlantique SA purchased a new position in QUALCOMM in the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC grew its position 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 purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent analyst reports. Citigroup raised their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lowered their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, 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 report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $186.39.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock traded up $0.41 during midday trading on Thursday, reaching $159.76. 2,575,199 shares of the company's stock were exchanged, compared to its average volume of 8,513,836. The stock's 50-day simple moving average is $152.00 and its 200 day simple moving average is $155.07. The firm has a market cap of $175.42 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 2.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09.

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 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 analyst estimates of $10.58 billion. During the same period in the previous year, the firm earned $2.44 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. On average, analysts expect 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.