Rehmann Capital Advisory Group Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new position in QUALCOMM in the 1st quarter worth $27,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised 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 purchasing an additional 70 shares during the period. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction 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 available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction 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 directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,310,735 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock traded down $0.10 on Wednesday, reaching $159.35. 4,187,668 shares of the company's stock were exchanged, compared to its average volume of 8,523,942. The company's fifty day simple moving average is $151.78 and its 200 day simple moving average is $155.04. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week 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 stock has a market capitalization of $174.97 billion, a PE ratio of 16.23, a P/E/G ratio of 2.04 and a beta of 1.26.

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, beating analysts' consensus estimates of $2.82 by $0.03. The company 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 firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Susquehanna decreased 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $188.00.

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.