QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,015 shares of the wireless technology company's stock after selling 372,356 shares during the period. Assenagon Asset Management S.A.'s holdings in QUALCOMM were worth $65,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in QUALCOMM by 4.5% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,916 shares of the wireless technology company's stock worth $294,000 after acquiring an additional 82 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in QUALCOMM by 11.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 16,948 shares of the wireless technology company's stock worth $2,603,000 after purchasing an additional 1,756 shares in the last quarter. Community Trust & Investment Co. grew its position in QUALCOMM by 4.2% during the 4th quarter. Community Trust & Investment Co. now owns 18,367 shares of the wireless technology company's stock valued at $2,822,000 after purchasing an additional 745 shares during the last quarter. Crestmont Private Wealth LLC increased its stake in QUALCOMM by 14.0% during the 4th quarter. Crestmont Private Wealth LLC now owns 2,367 shares of the wireless technology company's stock valued at $364,000 after purchasing an additional 291 shares in the last quarter. Finally, Define Financial LLC purchased a new position in QUALCOMM in the fourth quarter worth about $242,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Morgan Stanley decreased their target price on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Finally, Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $207.11.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company's stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 1.8 %

QCOM traded down $2.98 during trading on Thursday, hitting $161.43. 7,184,753 shares of the stock were exchanged, compared to its average volume of 7,079,023. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63. The firm has a market cap of $179.35 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.63 and a beta of 1.25. The firm has a 50 day simple moving average of $159.21 and a 200 day simple moving average of $169.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM 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.