Rathbones Group PLC Sells 10,791 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Rathbones Group PLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 68,393 shares of the wireless technology company's stock after selling 10,791 shares during the quarter. Rathbones Group PLC's holdings in QUALCOMM were worth $10,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Certior Financial Group LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $434,000. Bell Asset Management Ltd lifted its holdings in QUALCOMM by 8.6% during the 4th quarter. Bell Asset Management Ltd now owns 70,651 shares of the wireless technology company's stock worth $10,853,000 after purchasing an additional 5,576 shares in the last quarter. Polymer Capital Management US LLC bought a new position in QUALCOMM in the 4th quarter worth about $238,000. Trek Financial LLC grew its holdings in QUALCOMM by 57.7% during the 4th quarter. Trek Financial LLC now owns 5,878 shares of the wireless technology company's stock valued at $903,000 after buying an additional 2,150 shares in the last quarter. Finally, Polymer Capital Management HK LTD increased its position in shares of QUALCOMM by 520.0% during the fourth quarter. Polymer Capital Management HK LTD now owns 9,300 shares of the wireless technology company's stock valued at $1,429,000 after buying an additional 7,800 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 3.3 %

QCOM traded up $4.44 during trading on Friday, hitting $138.84. 4,993,028 shares of the stock traded hands, compared to its average volume of 8,845,603. The firm has a market capitalization of $153.56 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a 50-day moving average of $157.17 and a 200 day moving average of $161.66.

Remove Ads

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm'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 completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $202.64.

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.