Acropolis Investment Management LLC cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,016 shares of the wireless technology company’s stock after selling 611 shares during the period. Acropolis Investment Management LLC’s holdings in QUALCOMM were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of QCOM. Price T Rowe Associates Inc. MD lifted its holdings in QUALCOMM by 49.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock worth $2,672,850,000 after acquiring an additional 11,686,131 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of QUALCOMM by 1,405.4% in the second quarter. Nuveen Asset Management LLC now owns 11,560,171 shares of the wireless technology company’s stock valued at $879,382,000 after purchasing an additional 10,792,248 shares in the last quarter. Morgan Stanley lifted its holdings in shares of QUALCOMM by 126.9% in the second quarter. Morgan Stanley now owns 15,465,753 shares of the wireless technology company’s stock valued at $1,176,482,000 after purchasing an additional 8,648,635 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of QUALCOMM by 2.4% in the second quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after purchasing an additional 2,296,163 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of QUALCOMM by 921.8% in the second quarter. AQR Capital Management LLC now owns 2,198,942 shares of the wireless technology company’s stock valued at $165,074,000 after purchasing an additional 1,983,729 shares in the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.
A number of analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $95.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal” rating and boosted their price target for the company from $89.00 to $90.00 in a report on Monday, November 11th. They noted that the move was a valuation call. DZ Bank upgraded QUALCOMM from a “sell” rating to a “hold” rating and set a $92.00 price target on the stock in a report on Friday, November 8th. Deutsche Bank boosted their price target on QUALCOMM from $82.00 to $96.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Finally, Cowen restated a “buy” rating and issued a $100.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.71.
NASDAQ:QCOM opened at $90.56 on Wednesday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.72 and a current ratio of 1.88. The stock’s 50-day simple moving average is $87.10 and its 200 day simple moving average is $80.19. The company has a market cap of $103.06 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.85 and a beta of 1.62. QUALCOMM, Inc. has a 52-week low of $49.10 and a 52-week high of $94.11.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.71 billion. QUALCOMM had a return on equity of 77.78% and a net margin of 18.07%. QUALCOMM’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, equities analysts predict that QUALCOMM, Inc. will post 3.48 earnings per share for the current fiscal year.
In related news, CFO Akash J. Palkhiwala sold 5,237 shares of QUALCOMM stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $89.00, for a total value of $466,093.00. Following the sale, the chief financial officer now owns 19,018 shares of the company’s stock, valued at $1,692,602. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Erin L. Polek sold 3,190 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $84.65, for a total value of $270,033.50. Following the completion of the sale, the chief accounting officer now directly owns 1,040 shares in the company, valued at approximately $88,036. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,744 shares of company stock worth $9,631,265. 0.11% of the stock is owned by company insiders.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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