Sharpepoint LLC Takes $376,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sharpepoint LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,450 shares of the wireless technology company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Norges Bank acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $2,721,882,000. Amundi boosted its position in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new position in QUALCOMM in the 4th quarter worth approximately $527,053,000. Capital Research Global Investors raised its position in QUALCOMM by 525.5% during the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company’s stock worth $217,141,000 after buying an additional 1,187,531 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after acquiring an additional 709,644 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 648 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was 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 directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction 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 directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.6 %

Shares of QCOM opened at $136.54 on Friday. The firm’s fifty day moving average is $153.10 and its two-hundred day moving average is $160.34. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $151.01 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $201.21.

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.