QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Ossiam

Ossiam lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 67.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,259 shares of the wireless technology company's stock after selling 187,476 shares during the quarter. Ossiam's holdings in QUALCOMM were worth $13,712,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Te Ahumairangi Investment Management Ltd increased its stake in QUALCOMM by 60.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock worth $6,349,000 after acquiring an additional 14,213 shares during the period. Anchor Investment Management LLC increased its position in shares of QUALCOMM by 2.2% in the third quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock worth $5,901,000 after purchasing an additional 747 shares during the period. World Investment Advisors LLC raised its stake in QUALCOMM by 304.0% in the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock valued at $7,680,000 after purchasing an additional 33,985 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in QUALCOMM by 620.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock worth $9,466,000 after purchasing an additional 47,945 shares during the period. Finally, Optimist Retirement Group LLC grew its stake 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 buying an additional 531 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reiterated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Evercore ISI reduced their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $201.21.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $0.80 on Friday, reaching $136.54. 7,093,008 shares of the stock were exchanged, compared to its average volume of 8,877,869. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. 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. The company's 50-day simple moving average is $153.10 and its two-hundred day simple moving average is $160.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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.