United Capital Financial Advisors LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

United Capital Financial Advisors LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,382 shares of the wireless technology company's stock after selling 13,156 shares during the quarter. United Capital Financial Advisors LLC's holdings in QUALCOMM were worth $51,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QCOM. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Amundi lifted its position 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 during the period. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $527,053,000. Franklin Resources Inc. raised its stake in QUALCOMM by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after buying an additional 709,644 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QCOM. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $201.21.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total value of $91,439.28. Following the sale, the chief financial officer now owns 56,445 shares of the company's stock, valued at approximately $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,666 shares of company stock worth $5,047,052. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $0.80 during trading hours on Friday, hitting $136.54. The stock had a trading volume of 7,093,008 shares, compared to its average volume of 8,883,461. The stock has a market capitalization of $151.01 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. The stock's 50-day moving average price is $153.10 and its two-hundred day moving average price is $160.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

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

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.