Petros Family Wealth LLC Acquires Shares of 3,195 QUALCOMM Incorporated (NASDAQ:QCOM)

Petros Family Wealth LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,195 shares of the wireless technology company's stock, valued at approximately $491,000.

A number of other large investors also recently added to or reduced their stakes in QCOM. Nordea Investment Management AB grew its holdings in QUALCOMM by 39.7% during 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 purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after buying an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new position in QUALCOMM during the fourth quarter worth about $2,058,000. Burney Co. grew its stake in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after acquiring an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth about $240,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on QCOM shares. 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 report on Friday, January 17th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One 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, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $201.21.

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QUALCOMM Price Performance

NASDAQ QCOM traded down $0.06 during midday trading on Monday, hitting $139.19. The company had a trading volume of 6,927,053 shares, compared to its average volume of 8,873,375. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The firm has a 50-day moving average price of $156.49 and a 200-day moving average price of $161.38. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $153.94 billion, a PE ratio of 14.87, a P/E/G ratio of 2.01 and a beta of 1.28.

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%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 648 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the sale, the chief financial officer now owns 56,445 shares in the company, valued at $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 90 days, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by insiders.

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.