Wedge Capital Management L L P NC Has $60.26 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wedge Capital Management L L P NC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,389 shares of the wireless technology company's stock after purchasing an additional 51,879 shares during the quarter. QUALCOMM accounts for approximately 1.0% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 14th largest position. Wedge Capital Management L L P NC's holdings in QUALCOMM were worth $60,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC increased its stake in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after buying an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $37,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $8.06 during trading hours on Monday, reaching $178.04. 9,921,032 shares of the company's stock were exchanged, compared to its average volume of 9,068,731. The company has a market cap of $198.69 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company's 50 day moving average is $168.25 and its two-hundred day moving average is $182.24. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to analysts' expectations of $9.23 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company's stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company's stock, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,245 shares of company stock worth $3,679,407. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays upped their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities raised their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $209.38.

QUALCOMM 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.