Sagespring Wealth Partners LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,505 shares of the wireless technology company's stock, valued at approximately $999,000.
Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.
Insider Activity
In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on 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. The trade was a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. 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 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
QCOM has been the subject of several analyst reports. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Evercore ISI reduced their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday. Benchmark reissued a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $201.21.
Check Out Our Latest Analysis on QCOM
QUALCOMM Stock Down 0.4 %
Shares of QCOM stock traded down $0.59 during trading hours on Tuesday, hitting $138.60. 6,334,319 shares of the company's stock traded hands, compared to its average volume of 8,863,300. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock's fifty day simple moving average is $155.76 and its two-hundred day simple moving average is $161.16. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market cap of $153.29 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 2.01 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.
About QUALCOMM
(
Free Report)
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.
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