Canada Post Corp Registered Pension Plan bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,265 shares of the wireless technology company's stock, valued at approximately $2,806,000.
Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $2,058,000. Burney Co. grew its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after buying an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in QUALCOMM in the fourth quarter worth approximately $240,000. Institutional investors and hedge funds own 74.35% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on QCOM. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $201.21.
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QUALCOMM Price Performance
Shares of QUALCOMM stock traded down $0.59 during trading on Tuesday, hitting $138.60. 6,334,319 shares of the company's stock traded hands, compared to its average volume of 8,872,443. The company has a market cap of $153.29 billion, a PE ratio of 14.81, a PEG ratio of 2.01 and a beta of 1.28. The firm's fifty day moving average price is $155.15 and its 200 day moving average price is $161.00. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last three months. 0.08% of the stock is currently owned by corporate insiders.
QUALCOMM Profile
(Free Report)
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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