GraniteShares Advisors LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

GraniteShares Advisors LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,763 shares of the wireless technology company’s stock, valued at approximately $1,412,000.

A number of other hedge funds also recently modified their holdings of QCOM. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM during the third quarter worth about $26,000. Financial Gravity Asset Management Inc. raised its position in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $26,000. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth about $29,000. Finally, Pacific Center for Financial Services acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $1.26 during midday trading on Tuesday, hitting $168.58. The company had a trading volume of 6,386,536 shares, compared to its average volume of 8,614,523. The company has a market capitalization of $188.14 billion, a PE ratio of 24.34, a P/E/G ratio of 2.34 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $163.62 and a 200-day moving average price of $141.64. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QCOM. TD Cowen lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Evercore ISI began coverage on QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 target price on the stock. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. Rosenblatt Securities boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Piper Sandler boosted their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.90.

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.