Byrne Financial Freedom LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Byrne Financial Freedom LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 49.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,387 shares of the wireless technology company's stock after purchasing an additional 2,432 shares during the quarter. Byrne Financial Freedom LLC's holdings in QUALCOMM were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC grew its position in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after acquiring an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter worth $2,721,882,000. Northern Trust Corp lifted its position in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing 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 stake in shares of QUALCOMM by 17.0% during the fourth 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 valued at $1,502,509,000 after purchasing an additional 1,424,106 shares during the period. Institutional investors own 74.35% of the company's stock.

Insider Activity

In related news, 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Susquehanna lowered their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $186.39.

QUALCOMM Stock Performance

QUALCOMM stock traded down $0.26 during midday trading on Thursday, hitting $159.09. 5,670,906 shares of the company were exchanged, compared to its average volume of 8,525,681. The firm has a market capitalization of $174.68 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The business has a fifty day simple moving average of $152.00 and a two-hundred day simple moving average of $155.07. 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 (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (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 company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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.