Zacks Investment Management Sells 51,279 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Zacks Investment Management trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 540,978 shares of the wireless technology company's stock after selling 51,279 shares during the period. Zacks Investment Management's holdings in QUALCOMM were worth $83,105,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI lowered 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 dropped their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of "Hold" and an average price target of $201.21.

QUALCOMM Stock Up 0.6 %

Shares of NASDAQ:QCOM traded up $0.80 during trading on Friday, hitting $136.54. The stock had a trading volume of 7,093,008 shares, compared to its average volume of 8,877,869. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market capitalization of $151.01 billion, a PE ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. The firm's fifty day moving average is $153.10 and its 200 day moving average is $160.34.

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

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,666 shares of company stock worth $5,047,052. Insiders own 0.08% of the company's stock.

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.