Abacus FCF Advisors LLC Has $8.82 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Abacus FCF Advisors LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 46.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,440 shares of the wireless technology company's stock after buying an additional 18,228 shares during the period. QUALCOMM comprises 1.2% of Abacus FCF Advisors LLC's portfolio, making the stock its 18th largest holding. Abacus FCF Advisors LLC's holdings in QUALCOMM were worth $8,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi boosted its stake in shares of 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 purchasing an additional 3,905,918 shares during the period. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the 4th quarter valued at $527,053,000. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in QUALCOMM by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock valued at $1,158,654,000 after buying an additional 709,644 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

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Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. One research 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $201.21.

QUALCOMM Stock Up 3.6 %

QUALCOMM stock traded up $4.85 during mid-day trading on Friday, hitting $139.25. 10,947,680 shares of the company's stock were exchanged, compared to its average volume of 8,878,501. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a 50 day moving average of $156.49 and a two-hundred day moving average of $161.46. The stock has a market cap of $154.01 billion, a P/E ratio of 14.88, a P/E/G ratio of 2.01 and a beta of 1.28. 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 (NASDAQ:QCOM - Get Free Report) last issued 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, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by insiders.

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.