NewEdge Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

NewEdge Advisors LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 98,897 shares of the wireless technology company's stock after acquiring an additional 14,547 shares during the quarter. NewEdge Advisors LLC's holdings in QUALCOMM were worth $15,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Te Ahumairangi Investment Management Ltd increased its stake in QUALCOMM by 60.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock valued at $6,349,000 after buying an additional 14,213 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock valued at $5,901,000 after buying an additional 747 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of QUALCOMM by 304.0% during the 3rd quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock worth $7,680,000 after purchasing an additional 33,985 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in QUALCOMM by 620.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock valued at $9,466,000 after buying an additional 47,945 shares during the period. Finally, Optimist Retirement Group LLC boosted its position in QUALCOMM by 4.1% during the third quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock worth $2,309,000 after purchasing an additional 531 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.80 during trading hours on Friday, hitting $136.54. The stock had a trading volume of 7,093,008 shares, compared to its average volume of 8,883,461. The stock has a fifty day moving average price of $153.10 and a 200 day moving average price of $160.40. The firm 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 12 month low of $120.80 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on QCOM shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Benchmark reiterated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Piper Sandler cut 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. Finally, Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $201.21.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now directly owns 56,445 shares of the company's stock, valued at approximately $7,964,953.95. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

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.