CHURCHILL MANAGEMENT Corp Has $7.01 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CHURCHILL MANAGEMENT Corp lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,640 shares of the wireless technology company's stock after buying an additional 12,055 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in QUALCOMM were worth $7,011,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Burney Co. increased its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after buying an additional 127,722 shares during the period. Wolff Wiese Magana LLC increased its stake in shares of QUALCOMM by 2.3% in the fourth quarter. Wolff Wiese Magana LLC now owns 16,744 shares of the wireless technology company's stock worth $2,572,000 after acquiring an additional 369 shares during the last quarter. Smith Anglin Financial LLC raised its holdings in shares of QUALCOMM by 7.4% during the fourth quarter. Smith Anglin Financial LLC now owns 2,279 shares of the wireless technology company's stock worth $350,000 after acquiring an additional 157 shares in the last quarter. Apella Capital LLC boosted its position in QUALCOMM by 3.6% during the fourth quarter. Apella Capital LLC now owns 5,357 shares of the wireless technology company's stock valued at $823,000 after purchasing an additional 186 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in QUALCOMM by 18.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,569 shares of the wireless technology company's stock valued at $1,471,000 after purchasing an additional 1,471 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QUALCOMM stock traded down $2.98 during trading hours on Thursday, hitting $161.43. The stock had a trading volume of 7,184,753 shares, compared to its average volume of 7,079,023. The company has a market cap of $179.35 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63. The company has a 50-day moving average of $159.21 and a two-hundred day moving average of $169.34.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent research reports. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $207.11.

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.