Rockefeller Capital Management L.P. Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Rockefeller Capital Management L.P. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,046 shares of the wireless technology company's stock after purchasing an additional 35,124 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in QUALCOMM were worth $56,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Te Ahumairangi Investment Management Ltd grew its stake in shares of QUALCOMM by 60.9% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock valued at $6,349,000 after acquiring an additional 14,213 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock valued at $5,901,000 after acquiring an additional 747 shares during the period. World Investment Advisors LLC grew its holdings in shares of QUALCOMM by 304.0% during the 3rd quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock worth $7,680,000 after purchasing an additional 33,985 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in QUALCOMM by 620.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock valued at $9,466,000 after purchasing an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC lifted its position in QUALCOMM by 4.1% during the third quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock worth $2,309,000 after purchasing an additional 531 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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QUALCOMM Stock Down 0.4 %

Shares of NASDAQ QCOM traded down $0.59 during midday trading on Tuesday, hitting $138.60. 6,334,319 shares of the stock traded hands, 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 business has a 50 day moving average price of $155.76 and a two-hundred day moving average price of $161.16. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a market cap of $153.29 billion, a PE ratio of 14.81, a P/E/G ratio of 2.01 and a beta of 1.28.

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 return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on QCOM. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. One equities 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $201.21.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction that occurred on 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 directly 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 sold a total of 30,666 shares of company stock worth $5,047,052 in the last quarter. Insiders own 0.08% of the company's stock.

QUALCOMM Company 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.