QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,833 shares of the wireless technology company's stock after buying an additional 2,860 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in QUALCOMM were worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after purchasing an additional 105,631 shares during the last quarter. Teza Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of QUALCOMM by 3.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after purchasing an additional 6,017 shares during the last quarter. Kanawha Capital Management LLC grew its position in shares of QUALCOMM by 1.9% in the first quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after purchasing an additional 1,573 shares during the last quarter. Finally, First Foundation Advisors grew its position in shares of 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. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.1%

NASDAQ:QCOM traded down $0.23 during trading hours on Wednesday, reaching $154.07. 7,101,101 shares of the company were exchanged, compared to its average volume of 8,519,482. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The firm has a market cap of $169.17 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The stock has a 50 day simple moving average of $153.41 and a 200 day simple moving average of $154.98.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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 net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the firm posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% on a year-over-year basis. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Benchmark lowered their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. TD Cowen lowered their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Finally, Evercore ISI decreased their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $186.39.

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.