BI Asset Management Fondsmaeglerselskab A S Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

BI Asset Management Fondsmaeglerselskab A S lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 40.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 436,637 shares of the wireless technology company's stock after purchasing an additional 126,633 shares during the period. QUALCOMM comprises approximately 0.7% of BI Asset Management Fondsmaeglerselskab A S's portfolio, making the stock its 28th biggest holding. BI Asset Management Fondsmaeglerselskab A S's holdings in QUALCOMM were worth $67,076,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM in the 4th quarter worth approximately $2,721,882,000. Amundi boosted its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after buying an additional 193,236 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. 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 dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $201.21.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % 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 over the last quarter. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $0.80 during trading hours on Friday, hitting $136.54. 7,093,008 shares of the company were exchanged, compared to its average volume of 8,877,869. 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 Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The stock has a market capitalization of $151.01 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. The company's 50 day moving average price is $153.10 and its 200-day moving average price is $160.28.

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 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, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

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.