Heritage Trust Co Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Heritage Trust Co bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 89,254 shares of the wireless technology company's stock, valued at approximately $13,711,000. QUALCOMM makes up 1.6% of Heritage Trust Co's holdings, making the stock its 11th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in QUALCOMM by 39.7% in 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 in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $2,058,000. Burney Co. lifted its position in shares of 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. Finally, Howard Bailey Securities LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $240,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

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Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock worth $5,047,052 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and an average price target of $201.21.

QUALCOMM Price Performance

QCOM traded down $0.10 on Tuesday, hitting $139.09. 2,388,277 shares of the company were exchanged, compared to its average volume of 8,848,066. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. 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 firm has a market capitalization of $153.83 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business's fifty day moving average is $155.76 and its 200 day moving average is $161.16.

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 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current 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.