Tiaa Fsb increased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,661 shares of the wireless technology company’s stock after buying an additional 3,829 shares during the quarter. Tiaa Fsb’s holdings in QUALCOMM were worth $3,852,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. boosted its holdings in QUALCOMM by 16.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,875 shares of the wireless technology company’s stock valued at $296,000 after purchasing an additional 537 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of QUALCOMM by 0.4% in the 3rd quarter. D.A. Davidson & CO. now owns 355,893 shares of the wireless technology company’s stock valued at $27,148,000 after buying an additional 1,330 shares during the period. Columbia Asset Management lifted its holdings in shares of QUALCOMM by 8.1% in the 2nd quarter. Columbia Asset Management now owns 28,386 shares of the wireless technology company’s stock valued at $2,159,000 after buying an additional 2,115 shares during the period. Wealthsource Partners LLC lifted its holdings in shares of QUALCOMM by 32.8% in the 3rd quarter. Wealthsource Partners LLC now owns 5,235 shares of the wireless technology company’s stock valued at $399,000 after buying an additional 1,292 shares during the period. Finally, Pacific Center for Financial Services boosted its stake in shares of QUALCOMM by 107.6% in the second quarter. Pacific Center for Financial Services now owns 546 shares of the wireless technology company’s stock worth $42,000 after buying an additional 283 shares during the last quarter. 77.27% of the stock is currently owned by hedge funds and other institutional investors.
In related news, President Cristiano R. Amon sold 33,932 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.87, for a total value of $2,879,808.84. Following the completion of the transaction, the president now directly owns 66,718 shares of the company’s stock, valued at approximately $5,662,356.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Cristiano R. Amon sold 8,611 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the transaction, the president now directly owns 50,434 shares of the company’s stock, valued at $4,036,233.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,744 shares of company stock worth $9,631,265. 0.11% of the stock is currently owned by insiders.
QCOM has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. BidaskClub downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Royal Bank of Canada upped their price objective on QUALCOMM to $88.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Cowen reaffirmed a “buy” rating and set a $100.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, DZ Bank raised shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $92.00 target price for the company in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $86.71.
NASDAQ:QCOM opened at $90.56 on Wednesday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.72 and a current ratio of 1.88. The stock has a market capitalization of $103.06 billion, a PE ratio of 31.89, a P/E/G ratio of 1.85 and a beta of 1.62. QUALCOMM, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $94.11. The company has a fifty day moving average of $87.10 and a two-hundred day moving average of $80.19.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. Research analysts forecast that QUALCOMM, Inc. will post 3.48 earnings per share for the current year.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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