SVB Wealth LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SVB Wealth LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,044 shares of the wireless technology company’s stock after buying an additional 1,960 shares during the period. SVB Wealth LLC’s holdings in QUALCOMM were worth $4,201,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of QCOM. DHJJ Financial Advisors Ltd. bought a new position in QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Milestone Investment Advisors LLC acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $26,000. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at approximately $29,000. Finally, Pacific Center for Financial Services acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $31,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,360 shares of company stock valued at $7,184,678. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $168.58 on Wednesday. The stock has a market cap of $188.14 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $164.11 and a 200-day simple moving average of $142.05.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Cantor Fitzgerald lifted their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Rosenblatt Securities lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

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.