Advisors Capital Management LLC Has $68.48 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Advisors Capital Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 445,768 shares of the wireless technology company's stock after buying an additional 13,931 shares during the period. QUALCOMM makes up 1.1% of Advisors Capital Management LLC's portfolio, making the stock its 18th biggest position. Advisors Capital Management LLC's holdings in QUALCOMM were worth $68,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Nordea Investment Management AB raised its position in shares of QUALCOMM by 39.7% in 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 period. China Universal Asset Management Co. Ltd. lifted its stake in shares of QUALCOMM by 21.9% in 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 acquiring an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $2,058,000. Burney Co. lifted its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after acquiring an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $240,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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QUALCOMM Price Performance

QCOM traded down $0.06 during trading on Monday, reaching $139.19. 6,927,053 shares of the company were exchanged, compared to its average volume of 8,873,376. The company's 50-day moving average is $155.76 and its two-hundred day moving average is $161.16. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a market cap of $153.94 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Research analysts forecast 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 recent research reports. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. TD Cowen lowered their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Citigroup cut their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $201.21.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm'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 transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by insiders.

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.