QUALCOMM Incorporated (NASDAQ:QCOM) Position Increased by First Foundation Advisors

First Foundation Advisors lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,770 shares of the wireless technology company's stock after purchasing an additional 45,769 shares during the quarter. QUALCOMM comprises about 0.9% of First Foundation Advisors' holdings, making the stock its 26th biggest holding. First Foundation Advisors' holdings in QUALCOMM were worth $24,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 0.8 %

Shares of QCOM stock traded down $1.15 during trading hours on Monday, reaching $138.10. The company had a trading volume of 3,427,430 shares, compared to its average volume of 8,859,971. The stock's fifty day simple moving average is $156.49 and its 200 day simple moving average is $161.38. The company has a market capitalization of $152.74 billion, a P/E ratio of 14.75, 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 quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 19,287 shares of the 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 completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock valued at $5,047,052 in the last quarter. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Citigroup dropped their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $201.21.

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.