Nisa Investment Advisors LLC Purchases 262,425 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Nisa Investment Advisors LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 762,296 shares of the wireless technology company's stock after purchasing an additional 262,425 shares during the quarter. QUALCOMM accounts for 0.6% of Nisa Investment Advisors LLC's portfolio, making the stock its 23rd largest position. Nisa Investment Advisors LLC owned approximately 0.07% of QUALCOMM worth $117,096,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in QCOM. Eagle Strategies LLC lifted its position in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. lifted its position in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares during the period. PDS Planning Inc lifted its position in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares during the period. Cassady Schiller Wealth Management LLC lifted its position in shares of QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares during the period. Finally, Umpqua Bank lifted its position in shares of QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock worth $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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on QCOM shares. Citigroup raised their target price on QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Robert W. Baird cut their price objective 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 reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $186.39.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM 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 transaction, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 424,099 shares of company stock worth $8,310,735. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 0.3%

Shares of QUALCOMM stock traded up $0.52 during trading on Thursday, reaching $159.87. 2,720,817 shares of the company were exchanged, compared to its average volume of 8,514,227. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The business has a 50-day moving average price of $152.00 and a 200-day moving average price of $155.07. The firm has a market capitalization of $175.53 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS 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 during the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal 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.