MetLife Investment Management LLC Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

MetLife Investment Management LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,351 shares of the wireless technology company's stock after purchasing an additional 2,919 shares during the quarter. MetLife Investment Management LLC's holdings in QUALCOMM were worth $52,285,000 as of its most recent SEC filing.

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

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on QCOM shares. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Benchmark reaffirmed a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $201.21.

QUALCOMM Stock Performance

Shares of QCOM opened at $136.54 on Friday. The company's 50 day moving average price is $153.10 and its 200 day moving average price is $160.40. The company has a market capitalization of $151.01 billion, a PE ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 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.

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 (EPS) 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%. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS 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.

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