Philadelphia Trust Co. Has $7.19 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Philadelphia Trust Co. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,788 shares of the wireless technology company's stock after selling 3,395 shares during the period. Philadelphia Trust Co.'s holdings in QUALCOMM were worth $7,188,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in QCOM. Nordea Investment Management AB increased its holdings in QUALCOMM by 39.7% in the 4th 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. raised its holdings in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $240,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Benchmark reiterated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Mizuho dropped their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $201.21.

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QUALCOMM Stock Down 0.4 %

QCOM traded down $0.59 on Tuesday, reaching $138.60. The company's stock had a trading volume of 6,320,581 shares, compared to its average volume of 8,863,218. The business's 50 day moving average is $155.76 and its 200 day moving average is $161.16. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The stock has a market cap of $153.29 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 for the quarter, missing the consensus estimate 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, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

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

About QUALCOMM

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.