Distillate Capital Partners LLC Takes $33.73 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Distillate Capital Partners LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 219,541 shares of the wireless technology company's stock, valued at approximately $33,726,000. QUALCOMM comprises about 1.7% of Distillate Capital Partners LLC's investment portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds have 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 fourth quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM during the fourth quarter valued at $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on QCOM shares. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Benchmark restated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $201.21.

Remove Ads

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was 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 $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. The trade was a 4.54 % decrease in their position. 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 over the last quarter. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.4 %

Shares of QCOM traded down $0.59 during trading hours on Tuesday, reaching $138.60. 6,324,044 shares of the stock traded hands, compared to its average volume of 8,863,224. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. 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 stock has a fifty day simple moving average of $155.76 and a 200 day simple moving average of $161.16. The company has a market cap of $153.29 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current 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.