Pinnacle Bancorp Inc. Acquires 191 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Pinnacle Bancorp Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,371 shares of the wireless technology company’s stock after acquiring an additional 191 shares during the period. Pinnacle Bancorp Inc.’s holdings in QUALCOMM were worth $488,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. acquired a new stake in QUALCOMM in the third quarter worth $26,000. Financial Gravity Asset Management Inc. grew its holdings in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of QUALCOMM during the first quarter valued at about $26,000. Pacifica Partners Inc. grew its holdings in shares of QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $29,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.09 during trading hours on Monday, reaching $173.62. The company had a trading volume of 4,811,007 shares, compared to its average volume of 8,809,198. The business has a fifty day moving average price of $160.31 and a 200-day moving average price of $138.96. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The firm has a market cap of $193.76 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Sell-side analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on QCOM shares. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Piper Sandler boosted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. TD Cowen boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, KeyCorp upped their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $151.81.

Insider Buying and Selling at QUALCOMM

In other news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The disclosure for this sale can be found here. Insiders have sold 45,360 shares of company stock valued at $7,323,678 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.