Townsquare Capital LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,679 shares of the wireless technology company's stock after acquiring an additional 6,029 shares during the quarter. Townsquare Capital LLC's holdings in QUALCOMM were worth $24,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Nordea Investment Management AB raised its holdings in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after buying an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $2,058,000. Burney Co. lifted its holdings in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after buying an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $240,000. Hedge funds and other institutional investors own 74.35% of the company's stock.
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Insider Transactions at QUALCOMM
In related news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last 90 days. 0.08% of the stock is currently owned by insiders.
QUALCOMM Stock Performance
QCOM traded down $4.19 during trading on Wednesday, hitting $134.41. 2,863,719 shares of the stock were exchanged, compared to its average volume of 8,451,742. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a fifty day moving average price of $155.15 and a two-hundred day moving average price of $161.00. The firm has a market capitalization of $148.66 billion, a P/E ratio of 14.36, a PEG ratio of 2.01 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.
Wall Street Analyst Weigh In
QCOM has been the topic of several recent research reports. Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Evercore ISI reduced their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $201.21.
Get Our Latest Stock Analysis on QUALCOMM
QUALCOMM Company Profile
(Free Report)
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.
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