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

Rehmann Capital Advisory Group raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds have also recently bought and sold shares of QCOM. Vanguard Group Inc. lifted 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $2,721,882,000. Northern Trust Corp lifted its holdings in shares of QUALCOMM by 12.7% in the 4th 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 lifted its holdings in shares of QUALCOMM by 17.0% in 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 purchasing an additional 1,424,106 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Trading Up 0.3%

Shares of QUALCOMM stock traded up $0.42 on Thursday, reaching $159.77. 2,575,199 shares of the company were exchanged, compared to its average volume of 8,513,836. The stock has a fifty day moving average price of $152.00 and a 200-day moving average price of $155.07. The firm has a market capitalization of $175.43 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 earnings per share. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QCOM shares. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Bank of America cut their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup lifted their target price on QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $186.39.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's 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 directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's 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. Over the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

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.