Duncker Streett & Co. Inc. Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Duncker Streett & Co. Inc. lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,606 shares of the wireless technology company’s stock after selling 1,064 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in QUALCOMM were worth $2,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. raised its position in QUALCOMM by 1.3% during the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after buying an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after buying an additional 245,335 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after buying an additional 555 shares during the period. NewEdge Advisors LLC raised its position in QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after acquiring an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of QUALCOMM by 30.4% during the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.6 %

Shares of QUALCOMM stock traded down $1.07 during trading hours on Wednesday, reaching $167.51. 954,212 shares of the company’s stock were exchanged, compared to its average volume of 8,509,152. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a fifty day moving average of $164.11 and a 200-day moving average of $142.05. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $186.94 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41.

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

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,360 shares of company stock valued at $7,184,678. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. 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 research note on Thursday, February 1st. Mizuho boosted their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 price objective for the company. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $156.90.

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.