Commerce Bank Sells 24,734 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Commerce Bank lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 146,545 shares of the wireless technology company’s stock after selling 24,734 shares during the period. Commerce Bank’s holdings in QUALCOMM were worth $22,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM in the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM 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 completion of the transaction, the chief financial officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock valued at $5,047,052 over the last quarter. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $201.21.

QUALCOMM Stock Up 0.6 %

NASDAQ QCOM opened at $136.54 on Friday. QUALCOMM Incorporated has a one year low of $120.80 and a one year 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 business has a fifty day moving average price of $153.10 and a 200 day moving average price of $160.40. The company has a market cap of $151.01 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research 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.