QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Anchor Investment Management LLC

Anchor Investment Management LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,431 shares of the wireless technology company’s stock after acquiring an additional 731 shares during the period. Anchor Investment Management LLC’s holdings in QUALCOMM were worth $5,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. CacheTech Inc. boosted its position in shares of QUALCOMM by 18.2% in the 4th quarter. CacheTech Inc. now owns 6,198 shares of the wireless technology company’s stock valued at $952,000 after purchasing an additional 953 shares during the period. Bridgewater Associates LP lifted its stake in QUALCOMM by 13.0% in the fourth quarter. Bridgewater Associates LP now owns 900,629 shares of the wireless technology company’s stock valued at $138,355,000 after buying an additional 103,632 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of QUALCOMM by 2.1% in the fourth quarter. Guggenheim Capital LLC now owns 825,160 shares of the wireless technology company’s stock valued at $126,761,000 after acquiring an additional 16,735 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $28,390,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of QUALCOMM in the 4th quarter valued at $2,806,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,666 shares of company stock valued at $5,047,052. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $201.21.

QUALCOMM Stock Performance

QUALCOMM stock opened at $139.19 on Tuesday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a market capitalization of $153.94 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 2.01 and a beta of 1.28. The stock has a fifty day moving average of $155.76 and a two-hundred day moving average of $161.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

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.