QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 565.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,327 shares of the wireless technology company's stock after acquiring an additional 105,631 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in QUALCOMM were worth $19,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of QCOM. Apollon Wealth Management LLC increased its position in QUALCOMM by 44.6% during the 1st quarter. Apollon Wealth Management LLC now owns 42,927 shares of the wireless technology company's stock worth $6,594,000 after purchasing an additional 13,247 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in QUALCOMM by 18.0% in the 1st quarter. Hohimer Wealth Management LLC now owns 24,281 shares of the wireless technology company's stock valued at $3,730,000 after purchasing an additional 3,709 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake 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 worth $1,708,000 after purchasing an additional 486 shares during the last quarter. Signaturefd LLC grew its holdings in shares of QUALCOMM by 7.9% during the first quarter. Signaturefd LLC now owns 19,964 shares of the wireless technology company's stock worth $3,067,000 after buying an additional 1,465 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of QUALCOMM by 4.4% in 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. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,310,735 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 2.0%

QCOM traded down $3.17 on Monday, reaching $154.29. The company's stock had a trading volume of 7,372,003 shares, compared to its average volume of 8,458,124. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The business's 50 day moving average is $152.83 and its 200 day moving average is $155.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market cap of $169.41 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.26.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $186.39.

About QUALCOMM

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.