Distillate Capital Partners LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 219,541 shares of the wireless technology company's stock, valued at approximately $33,726,000. QUALCOMM makes up approximately 1.7% of Distillate Capital Partners LLC's investment portfolio, making the stock its 9th largest holding.
A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Norges Bank acquired a new position in QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi grew its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM in the fourth quarter worth $527,053,000. Franklin Resources Inc. raised its holdings in shares of QUALCOMM by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after acquiring an additional 709,644 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.
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Insider Transactions at QUALCOMM
In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction dated Monday, February 10th. The shares were 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 approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 648 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the transaction, the chief financial officer now directly owns 56,445 shares of the company's stock, valued at approximately $7,964,953.95. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,666 shares of company stock worth $5,047,052. Company insiders own 0.08% of the company's stock.
QUALCOMM Price Performance
Shares of QUALCOMM stock traded down $0.06 on Monday, hitting $139.19. 6,927,053 shares of the company traded hands, compared to its average volume of 8,873,375. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The firm's 50-day simple moving average is $156.49 and its 200 day simple moving average is $161.38. The company has a market cap of $153.94 billion, a P/E ratio of 14.87, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
Analysts Set New Price Targets
QCOM has been the subject of several recent research reports. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Benchmark reissued a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $201.21.
Read Our Latest Report on QCOM
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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