Poinciana Advisors Group LLC Buys New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Poinciana Advisors Group LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,631 shares of the wireless technology company's stock, valued at approximately $251,000.

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

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm'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 transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on 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. In the last quarter, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QCOM. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Citigroup increased their price objective on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday. Bank of America lowered their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Robert W. Baird reduced their target price on shares of 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 given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $186.39.

QUALCOMM Stock Down 0.1%

Shares of NASDAQ QCOM opened at $159.35 on Thursday. The firm has a market capitalization of $174.97 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The firm's 50-day moving average is $152.00 and its 200-day moving average is $155.07.

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, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.