Xponance Inc. Sells 4,765 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Xponance Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 281,987 shares of the wireless technology company's stock after selling 4,765 shares during the quarter. QUALCOMM comprises about 0.4% of Xponance Inc.'s holdings, making the stock its 29th largest position. Xponance Inc.'s holdings in QUALCOMM were worth $43,316,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Banque Transatlantique SA acquired a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp purchased a new position in QUALCOMM in the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $1.63 during mid-day trading on Friday, hitting $157.46. 5,902,831 shares of the stock traded hands, compared to its average volume of 8,528,385. The company has a market cap of $172.89 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. 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 12-month low of $120.80 and a 12-month high of $211.09. The business's 50-day moving average price is $152.48 and its 200 day moving average price is $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during 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 business's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on QCOM. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup upped their price target on QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One investment 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, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $186.39.

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.