Western Wealth Management LLC purchased a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,325 shares of the wireless technology company’s stock, valued at approximately $817,000.
A number of other institutional investors also recently made changes to their positions in QCOM. Oregon Public Employees Retirement Fund lifted its holdings in QUALCOMM by 9,505.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after acquiring an additional 33,262,770 shares during the period. Bank of New York Mellon Corp lifted its holdings in QUALCOMM by 24.1% in the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after acquiring an additional 5,022,323 shares during the period. Morgan Stanley lifted its holdings in QUALCOMM by 163.2% in the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after acquiring an additional 11,713,988 shares during the period. Capital World Investors increased its position in shares of QUALCOMM by 33.5% in the third quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock valued at $1,338,363,000 after buying an additional 4,662,437 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of QUALCOMM by 28.8% in the third quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after buying an additional 2,058,096 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.
Shares of NASDAQ QCOM traded up $0.81 during midday trading on Friday, hitting $79.89. The stock had a trading volume of 41,621,184 shares, compared to its average volume of 23,868,188. The firm has a market capitalization of $96.69 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.59 and a beta of 1.22. QUALCOMM, Inc. has a 1-year low of $48.56 and a 1-year high of $82.52. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38.
In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cristiano R. Amon sold 13,466 shares of QUALCOMM stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total value of $807,960.00. Following the sale, the president now owns 37,614 shares in the company, valued at $2,256,840. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
A number of research analysts have recently weighed in on QCOM shares. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Barclays restated a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a research report on Friday, January 18th. Mizuho dropped their price target on QUALCOMM from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, January 31st. UBS Group restated a “neutral” rating and issued a $55.00 price target (down previously from $64.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Finally, ValuEngine cut QUALCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $76.32.
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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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