QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 114,061 shares of the wireless technology company’s stock after acquiring an additional 17,228 shares during the period. Wealthfront Advisers LLC’s holdings in QUALCOMM were worth $17,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. First Business Financial Services Inc. grew its position in shares of QUALCOMM by 8.0% during the 1st quarter. First Business Financial Services Inc. now owns 10,989 shares of the wireless technology company’s stock valued at $1,688,000 after acquiring an additional 817 shares during the period. Pinkerton Retirement Specialists LLC lifted its stake in QUALCOMM by 8.5% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 39,693 shares of the wireless technology company’s stock valued at $6,097,000 after buying an additional 3,112 shares in the last quarter. West Family Investments Inc. lifted its stake in QUALCOMM by 22.7% in the 1st quarter. West Family Investments Inc. now owns 2,750 shares of the wireless technology company’s stock valued at $422,000 after buying an additional 509 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in QUALCOMM by 13.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 24,833 shares of the wireless technology company’s stock valued at $3,815,000 after buying an additional 2,860 shares in the last quarter. Finally, Sage Private Wealth Group LLC lifted its stake in QUALCOMM by 6.9% in the 1st quarter. Sage Private Wealth Group LLC now owns 2,580 shares of the wireless technology company’s stock valued at $396,000 after buying an additional 166 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on QCOM shares. 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 note on Friday, May 2nd. Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Citigroup raised their target price on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, 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 note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and a consensus price target of $186.39.

QUALCOMM Stock Down 2.0%

Shares of NASDAQ QCOM opened at $154.29 on Tuesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The company has a market capitalization of $169.41 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.26. 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’s 50-day moving average is $153.13 and its two-hundred day moving average is $154.98.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated 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 sale, the insider 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. Insiders sold 424,099 shares of company stock valued at $8,310,735 over the last 90 days. Corporate 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.