Heritage Trust Co bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 89,254 shares of the wireless technology company's stock, valued at approximately $13,711,000. QUALCOMM accounts for about 1.6% of Heritage Trust Co's portfolio, making the stock its 11th largest holding.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter worth about $2,721,882,000. Amundi boosted its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in QUALCOMM by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after buying an additional 193,236 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.
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Insider Transactions at QUALCOMM
In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction 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 directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 648 shares of the firm's stock in a transaction 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 owns 56,445 shares of the company's stock, valued at $7,964,953.95. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock valued at $5,047,052 in the last three months. 0.08% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and an average price target of $201.21.
Read Our Latest Report on QUALCOMM
QUALCOMM Trading Up 3.6 %
QCOM stock traded up $4.85 on Friday, reaching $139.25. The company's stock had a trading volume of 10,947,680 shares, compared to its average volume of 8,881,149. The business has a fifty day simple moving average of $156.49 and a two-hundred day simple moving average of $161.46. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $154.01 billion, a PE ratio of 14.88, 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 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, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.
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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