Vision Capital Management Inc. Acquires 9,323 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Vision Capital Management Inc. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,514 shares of the wireless technology company's stock after purchasing an additional 9,323 shares during the period. QUALCOMM comprises about 1.0% of Vision Capital Management Inc.'s portfolio, making the stock its 26th largest holding. Vision Capital Management Inc.'s holdings in QUALCOMM were worth $6,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC lifted its position in 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 valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of QUALCOMM by 17.0% in the fourth 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 valued at $1,502,509,000 after purchasing an additional 1,424,106 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.7%

Shares of QUALCOMM stock traded down $1.15 during midday trading on Friday, reaching $157.95. 3,547,249 shares of the company's stock traded hands, compared to its average volume of 8,447,675. The company has a market cap of $173.42 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The company's 50 day simple moving average is $152.48 and its 200 day simple moving average is $155.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business's quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on 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 of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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. In the last three months, insiders sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. 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. Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Citigroup upped their target price on QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday. 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $186.39.

QUALCOMM Company 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.