2,022 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Stratos Investment Management LLC

Stratos Investment Management LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,022 shares of the wireless technology company's stock, valued at approximately $311,000.

A number of other large investors have also recently added to or reduced their stakes in QCOM. Brighton Jones LLC lifted its stake in QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of QUALCOMM by 50.1% during the fourth quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock worth $645,000 after buying an additional 1,401 shares during the last quarter. Sage Mountain Advisors LLC grew its stake in shares of QUALCOMM by 2.3% during the fourth quarter. Sage Mountain Advisors LLC now owns 5,453 shares of the wireless technology company's stock worth $838,000 after buying an additional 123 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of QUALCOMM by 8.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 41,148 shares of the wireless technology company's stock worth $6,321,000 after purchasing an additional 3,322 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Wells Fargo & Company dropped their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. TD Cowen dropped their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Susquehanna dropped their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup boosted their target price on shares of QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, July 7th. 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. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $186.39.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $1.63 during trading on Friday, reaching $157.46. 5,902,831 shares of the company's stock traded hands, compared to its average volume of 8,528,385. The company has a market capitalization of $172.89 billion, a P/E ratio of 16.03, a PEG ratio of 2.05 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. The firm's 50-day moving average is $152.83 and its 200 day moving average is $155.06. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the company posted $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM 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 sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last quarter. 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.