QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,415,408 shares of the wireless technology company's stock after buying an additional 16,791 shares during the quarter. Envestnet Asset Management Inc. owned about 0.22% of QUALCOMM worth $371,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. Vanguard Group Inc. increased its position in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $2,721,882,000. Northern Trust Corp raised its position in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Down 0.1%

QCOM stock traded down $0.10 during trading on Wednesday, hitting $159.35. 4,187,668 shares of the company traded hands, compared to its average volume of 8,537,101. The company has a 50-day moving average of $151.78 and a 200-day moving average of $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. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The firm has a market capitalization of $174.97 billion, a PE ratio of 16.23, a P/E/G ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The business 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 quarter last year, the business posted $2.44 EPS. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. 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 ninety days. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QCOM. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Citigroup increased their price target on QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday. Wells Fargo & Company cut 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. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $188.00.

QUALCOMM 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.