Wealthfront Advisers LLC Has $17.52 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealthfront Advisers LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,061 shares of the wireless technology company's stock after buying an additional 17,228 shares during the period. Wealthfront Advisers LLC's holdings in QUALCOMM were worth $17,521,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QCOM. Brighton Jones LLC lifted its position in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of QUALCOMM by 15.4% during 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 period. Proficio Capital Partners LLC lifted its holdings 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 valued at $645,000 after acquiring an additional 1,401 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of QUALCOMM by 4.1% during the fourth quarter. Great Lakes Advisors LLC now owns 4,506 shares of the wireless technology company's stock valued at $692,000 after acquiring an additional 179 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of QUALCOMM by 8.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 65,062 shares of the wireless technology company's stock valued at $9,995,000 after acquiring an additional 4,806 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $154.29 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $169.41 billion, a P/E ratio of 15.71, a PEG ratio of 2.03 and a beta of 1.26. The stock's 50 day moving average is $153.13 and its 200 day moving average is $154.98. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. The company's revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Bank of America lowered their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $186.39.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction 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 value of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is owned by company insiders.

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.

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