QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Rogco LP

Rogco LP raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10,820.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,276 shares of the wireless technology company's stock after acquiring an additional 3,246 shares during the quarter. Rogco LP's holdings in QUALCOMM were worth $503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teza Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after acquiring an additional 6,017 shares during the period. Kanawha Capital Management LLC lifted its holdings in shares of QUALCOMM by 1.9% in the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after buying an additional 1,573 shares during the period. First Foundation Advisors grew its holdings in QUALCOMM by 41.2% in the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after purchasing an additional 45,769 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in shares of QUALCOMM by 42.2% in the first quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock valued at $162,000 after purchasing an additional 313 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm'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 transaction, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Susquehanna lowered 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. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Benchmark cut their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $186.39.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $0.76 on Friday, hitting $158.34. 3,171,084 shares of the company traded hands, compared to its average volume of 8,518,961. The firm's 50-day simple moving average is $152.48 and its 200 day simple moving average is $155.07. 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 cap of $173.85 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results 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 firm had revenue of $10.98 billion for 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 company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

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.