Ally Financial Inc. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ally Financial Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 150.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,000 shares of the wireless technology company's stock after purchasing an additional 9,000 shares during the quarter. Ally Financial Inc.'s holdings in QUALCOMM were worth $2,304,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Canada Pension Plan Investment Board grew its position in shares of QUALCOMM by 25.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,045,586 shares of the wireless technology company's stock worth $160,623,000 after acquiring an additional 209,136 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $69,000. First Commonwealth Financial Corp PA grew its holdings in shares of QUALCOMM by 8.4% during the fourth quarter. First Commonwealth Financial Corp PA now owns 10,571 shares of the wireless technology company's stock worth $1,624,000 after buying an additional 823 shares during the last quarter. Farringdon Capital Ltd. purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $200,000. Finally, NewEdge Advisors LLC grew its stake in shares of QUALCOMM by 17.2% in the 4th quarter. NewEdge Advisors LLC now owns 98,897 shares of the wireless technology company's stock valued at $15,192,000 after purchasing an additional 14,547 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

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

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $0.80 during midday trading on Friday, reaching $136.54. The company's stock had a trading volume of 7,093,008 shares, compared to its average volume of 8,883,461. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $151.01 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28. The business's 50 day moving average price is $153.10 and its two-hundred day moving average price is $160.40. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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%. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Barclays cut their price target 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. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $201.21.

QUALCOMM Company 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.