QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 144.6% in the first quarter, HoldingsChannel reports. The fund owned 8,352 shares of the wireless technology company’s stock after buying an additional 4,938 shares during the period. Larson Financial Group LLC’s holdings in QUALCOMM were worth $1,283,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sage Mountain Advisors LLC lifted its holdings in QUALCOMM by 5.3% in the first quarter. Sage Mountain Advisors LLC now owns 5,740 shares of the wireless technology company’s stock worth $882,000 after purchasing an additional 287 shares during the period. Wealthfront Advisers LLC raised its position in shares of QUALCOMM by 17.8% during the 1st quarter. Wealthfront Advisers LLC now owns 114,061 shares of the wireless technology company’s stock worth $17,521,000 after buying an additional 17,228 shares in the last quarter. First Business Financial Services Inc. lifted its stake in shares of QUALCOMM by 8.0% in the 1st quarter. First Business Financial Services Inc. now owns 10,989 shares of the wireless technology company’s stock worth $1,688,000 after acquiring an additional 817 shares during the period. Pinkerton Retirement Specialists LLC boosted its holdings in shares of QUALCOMM by 8.5% in the first quarter. Pinkerton Retirement Specialists LLC now owns 39,693 shares of the wireless technology company’s stock valued at $6,097,000 after acquiring an additional 3,112 shares in the last quarter. Finally, West Family Investments Inc. increased its stake in shares of QUALCOMM by 22.7% during the first quarter. West Family Investments Inc. now owns 2,750 shares of the wireless technology company’s stock valued at $422,000 after acquiring an additional 509 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $154.30 on Wednesday. The company has a market capitalization of $169.42 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $153.41 and its 200-day simple moving average is $154.98.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred 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 owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on QCOM shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Citigroup boosted their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, July 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $186.39.

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.