Synovus Financial Corp Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Synovus Financial Corp decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,519 shares of the wireless technology company's stock after selling 3,161 shares during the quarter. Synovus Financial Corp's holdings in QUALCOMM were worth $7,915,000 at the end of the most recent quarter.

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

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Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays reduced their price target 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. One equities 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $201.21.

QUALCOMM Trading Down 0.4 %

Shares of NASDAQ QCOM traded down $0.59 during trading on Tuesday, reaching $138.60. The stock had a trading volume of 6,334,319 shares, compared to its average volume of 8,872,443. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $153.29 billion, a P/E ratio of 14.81, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The business's 50-day moving average price is $155.76 and its 200-day moving average price is $161.16.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now owns 56,445 shares of the company's stock, valued at $7,964,953.95. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by corporate 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.