Cerity Partners LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Cerity Partners LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,366 shares of the wireless technology company's stock after selling 9,557 shares during the quarter. Cerity Partners LLC's holdings in QUALCOMM were worth $82,182,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after buying an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter valued at $2,721,882,000. Amundi raised its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after purchasing an additional 193,236 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts have recently commented on QCOM shares. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $202.64.

QUALCOMM Trading Up 2.5 %

Shares of QUALCOMM stock traded up $3.40 during trading hours on Friday, hitting $137.80. The company's stock had a trading volume of 4,819,948 shares, compared to its average volume of 8,844,697. The firm has a fifty day moving average of $157.17 and a 200-day moving average of $161.66. 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 stock has a market cap of $152.40 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. The trade was a 1.13 % 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 worth $5,047,052 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

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.