Perigon Wealth Management LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Perigon Wealth Management LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 65.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,691 shares of the wireless technology company's stock after buying an additional 23,523 shares during the period. Perigon Wealth Management LLC's holdings in QUALCOMM were worth $8,633,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc raised its position in QUALCOMM by 6.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company's stock worth $161,000 after acquiring an additional 68 shares in the last quarter. Chilton Capital Management LLC raised its holdings in QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company's stock worth $544,000 after buying an additional 70 shares during the period. Means Investment CO. Inc. raised its holdings in QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company's stock worth $838,000 after buying an additional 71 shares during the period. Certified Advisory Corp raised its holdings in QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company's stock worth $1,770,000 after buying an additional 79 shares during the period. Finally, Source Financial Advisors LLC raised its holdings in QUALCOMM by 2.2% during the 4th quarter. Source Financial Advisors LLC now owns 3,903 shares of the wireless technology company's stock worth $564,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company's stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares of the company's stock, valued at $4,843,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company's stock, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company's stock, valued at $4,843,800. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock valued at $7,184,678 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 2.5 %

Shares of NASDAQ QCOM traded up $4.27 during trading hours on Thursday, hitting $175.13. The stock had a trading volume of 6,116,548 shares, compared to its average volume of 8,681,217. The company has a market capitalization of $195.45 billion, a P/E ratio of 24.89, a P/E/G ratio of 2.37 and a beta of 1.41. The firm's 50-day moving average price is $161.83 and its two-hundred day moving average price is $140.12. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on QCOM. KeyCorp boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday. Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, January 19th. Cantor Fitzgerald boosted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Finally, Mizuho upped their target price on QUALCOMM from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and a consensus price target of $154.90.

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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