Rehmann Capital Advisory Group Acquires 4,252 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Rehmann Capital Advisory Group boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,614 shares of the wireless technology company's stock after purchasing an additional 4,252 shares during the quarter. Rehmann Capital Advisory Group's holdings in QUALCOMM were worth $2,245,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QCOM. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the fourth quarter worth $30,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 424,099 shares of company stock valued at $8,310,735. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.2%

QCOM stock traded down $0.26 during trading on Thursday, reaching $159.09. The stock had a trading volume of 5,671,246 shares, compared to its average volume of 8,539,163. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $174.68 billion, a P/E ratio of 16.20, a PEG ratio of 2.06 and a beta of 1.26. The firm has a fifty day moving average price of $152.48 and a 200 day moving average price of $155.07.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QCOM shares. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. 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 stock. According to MarketBeat, the stock currently has an average 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.