Commerce Bank Has $22.51 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Commerce Bank lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,545 shares of the wireless technology company's stock after selling 24,734 shares during the quarter. Commerce Bank's holdings in QUALCOMM were worth $22,512,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust purchased a new stake in QUALCOMM during the fourth quarter worth about $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth $38,000. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Benchmark restated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $201.21.

Insider Activity

In related 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 transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the transaction, the chief financial officer now owns 56,445 shares of the company's stock, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock valued at $5,047,052 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of QCOM traded up $0.80 during mid-day trading on Friday, hitting $136.54. 7,093,008 shares of the company traded hands, compared to its average volume of 8,877,869. 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 business has a 50-day moving average of $153.10 and a 200 day moving average of $160.28. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The stock has a market capitalization of $151.01 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

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.