Occidental Asset Management LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Occidental Asset Management LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,319 shares of the wireless technology company’s stock after acquiring an additional 2,183 shares during the period. Occidental Asset Management LLC’s holdings in QUALCOMM were worth $4,350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Nordea Investment Management AB increased its holdings in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,058,000. Burney Co. increased its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC boosted its stake in QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after acquiring an additional 18,315 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $161.43 on Friday. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The firm has a market capitalization of $179.35 billion, a PE ratio of 17.96, a P/E/G ratio of 2.63 and a beta of 1.25. The company’s 50 day simple moving average is $159.21 and its 200 day simple moving average is $169.34. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. 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 research report on Tuesday, January 7th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Company Profile

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.