Lbp Am Sa Purchases 101,691 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lbp Am Sa raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 161.1% in the first quarter, HoldingsChannel reports. The firm owned 164,807 shares of the wireless technology company’s stock after acquiring an additional 101,691 shares during the period. Lbp Am Sa’s holdings in QUALCOMM were worth $25,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in QUALCOMM during the 4th quarter valued at about $2,721,882,000. GAMMA Investing LLC grew its stake in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the last quarter. Northern Trust Corp grew its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $204,085,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 0.9%

Shares of QCOM stock opened at $159.45 on Wednesday. The business’s fifty day moving average price is $151.78 and its 200 day moving average price is $155.04. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The firm has a market capitalization of $175.08 billion, a PE ratio of 16.24, a P/E/G ratio of 2.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,310,735 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $188.00.

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.