Hennion & Walsh Asset Management Inc. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Hennion & Walsh Asset Management Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,102 shares of the wireless technology company's stock after buying an additional 3,821 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in QUALCOMM were worth $4,778,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $2,058,000. Burney Co. raised its position in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock worth $60,264,000 after buying an additional 51,879 shares during the period. Finally, Icon Wealth Advisors LLC grew its position in shares of QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock valued at $5,643,000 after buying an additional 18,315 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.11.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company's stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $2.98 on Thursday, reaching $161.43. 7,184,753 shares of the stock were exchanged, compared to its average volume of 7,079,023. QUALCOMM Incorporated has a one year low of $137.35 and a one year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $179.35 billion, a PE ratio of 17.96, a PEG ratio of 2.63 and a beta of 1.25. The company's 50-day simple moving average is $159.21 and its two-hundred day simple moving average is $169.34.

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. The business had revenue of $10.24 billion during 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%. Analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

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.