Stifel Financial Corp Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Stifel Financial Corp lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,583,218 shares of the wireless technology company’s stock after selling 42,135 shares during the quarter. Stifel Financial Corp owned 0.14% of QUALCOMM worth $243,221,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in QCOM. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC boosted its holdings in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi raised its stake in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after buying an additional 193,236 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $136.54 on Monday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm has a market capitalization of $151.01 billion, a PE ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business’s fifty day moving average price is $153.10 and its two-hundred day moving average price is $160.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Citigroup decreased their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and a consensus target price of $201.21.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the firm’s 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 $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction 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 transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock valued at $5,047,052 in the last quarter. Corporate 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.