QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Clarus Group Inc.

Clarus Group Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,270 shares of the wireless technology company’s stock after selling 200 shares during the period. Clarus Group Inc.’s holdings in QUALCOMM were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QCOM. Moneta Group Investment Advisors LLC lifted its stake in QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after acquiring an additional 24,566,978 shares during the last quarter. Norges Bank purchased a new position in QUALCOMM in the fourth quarter worth approximately $1,467,351,000. Cowa LLC purchased a new position in QUALCOMM in the first quarter worth approximately $94,000. Morgan Stanley lifted its stake in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Thursday, February 1st. Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday. Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $154.90.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock worth $7,184,678 in the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $4.27 on Thursday, hitting $175.13. The company’s stock had a trading volume of 6,116,548 shares, compared to its average volume of 8,681,217. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $161.83 and a 200-day moving average price of $140.12. The company has a market capitalization of $195.45 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 2.37 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities research analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM 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.