Greenfield Savings Bank Invests $223,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Greenfield Savings Bank purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,450 shares of the wireless technology company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. raised its position in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the period. Geode Capital Management LLC boosted its holdings in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $157.13 on Tuesday. The business has a 50-day moving average of $159.51 and a two-hundred day moving average of $169.65. The firm has a market capitalization of $174.57 billion, a PE ratio of 17.48, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on QCOM shares. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

About QUALCOMM

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.