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

Rehmann Capital Advisory Group raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Several other hedge funds also recently bought and sold shares of QCOM. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the 1st quarter valued at $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter worth $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.63 during trading on Friday, hitting $157.46. 5,902,831 shares of the company's stock traded hands, compared to its average volume of 8,528,669. The company has a market cap of $172.89 billion, a PE ratio of 16.03, a PEG ratio of 2.06 and a beta of 1.26. The firm's fifty day moving average price is $152.48 and its 200 day moving average price is $155.07. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating 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 period in the previous year, the business earned $2.44 earnings per share. The company's quarterly revenue was up 17.0% on a year-over-year basis. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were 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 in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. Susquehanna reduced their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. 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 given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $186.39.

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.