Altshuler Shaham Ltd Sells 1,065,803 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Altshuler Shaham Ltd reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 99.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,253 shares of the wireless technology company's stock after selling 1,065,803 shares during the quarter. Altshuler Shaham Ltd's holdings in QUALCOMM were worth $192,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farringdon Capital Ltd. purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $200,000. NewEdge Advisors LLC grew its position in shares of QUALCOMM by 17.2% in the fourth 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 period. Insigneo Advisory Services LLC increased its stake in QUALCOMM by 22.3% in the fourth quarter. Insigneo Advisory Services LLC now owns 7,641 shares of the wireless technology company's stock valued at $1,174,000 after purchasing an additional 1,395 shares during the last quarter. Stenger Family Office LLC purchased a new position in QUALCOMM during the fourth quarter worth about $2,129,000. Finally, Evergreen Capital Management LLC boosted its stake in QUALCOMM by 1.3% in the 4th quarter. Evergreen Capital Management LLC now owns 107,743 shares of the wireless technology company's stock worth $16,552,000 after buying an additional 1,398 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.6 %

Shares of QCOM traded up $0.80 during trading hours on Friday, hitting $136.54. 7,093,008 shares of the stock traded hands, compared to its average volume of 8,883,461. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $151.01 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a fifty day moving average of $153.10 and a 200-day moving average of $160.40. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year 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 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46 % 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 worth $5,047,052. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and a consensus target price 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.