QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Eastern Bank

Eastern Bank raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,171 shares of the wireless technology company’s stock after purchasing an additional 1,504 shares during the period. Eastern Bank’s holdings in QUALCOMM were worth $1,716,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Claro Advisors LLC increased its holdings in shares of QUALCOMM by 3.8% during the 4th quarter. Claro Advisors LLC now owns 7,285 shares of the wireless technology company’s stock worth $1,119,000 after buying an additional 267 shares during the last quarter. Wedmont Private Capital increased its stake in QUALCOMM by 8.0% during the fourth quarter. Wedmont Private Capital now owns 11,827 shares of the wireless technology company’s stock worth $1,857,000 after acquiring an additional 881 shares during the last quarter. Westmount Partners LLC lifted its stake in shares of QUALCOMM by 16.9% in the 4th quarter. Westmount Partners LLC now owns 10,045 shares of the wireless technology company’s stock valued at $1,543,000 after purchasing an additional 1,450 shares in the last quarter. CHICAGO TRUST Co NA increased its position in QUALCOMM by 12.6% during the 4th quarter. CHICAGO TRUST Co NA now owns 8,921 shares of the wireless technology company’s stock worth $1,370,000 after purchasing an additional 997 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in QUALCOMM in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’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 transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 0.1 %

QCOM stock opened at $157.13 on Tuesday. The firm has a fifty day moving average price of $159.51 and a two-hundred day moving average price of $169.65. 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 1-year low of $137.35 and a 1-year high of $230.63. The firm has a market cap of $174.57 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $9.90 billion. Research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. 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 decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.