Shayne & Jacobs LLC Sells 109 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Shayne & Jacobs LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,217 shares of the wireless technology company’s stock after selling 109 shares during the period. Shayne & Jacobs LLC’s holdings in QUALCOMM were worth $801,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $2,721,882,000. GAMMA Investing LLC grew its position in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Northern Trust Corp increased its stake in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in QUALCOMM by 17.0% in the 4th 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 purchased a new position in shares of QUALCOMM in the fourth quarter worth about $204,085,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on QCOM shares. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Bank of America cut their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.39.

QUALCOMM Stock Up 0.0%

Shares of NASDAQ QCOM opened at $154.30 on Wednesday. The firm has a market cap of $169.42 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. The company’s 50-day simple moving average is $153.41 and its 200-day simple moving average is $154.98. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the previous year, the firm posted $2.44 EPS. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. Equities analysts predict 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 firm’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Company 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.