E&G Advisors LP grew its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 53.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,723 shares of the wireless technology company’s stock after buying an additional 2,000 shares during the quarter. E&G Advisors LP’s holdings in QUALCOMM were worth $326,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of QUALCOMM by 9,505.7% during 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 last quarter. Bank of New York Mellon Corp boosted its stake in shares of QUALCOMM by 24.1% during 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of QUALCOMM by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after acquiring an additional 96,527 shares during the last quarter. Morgan Stanley boosted its stake in shares of QUALCOMM by 163.2% during 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 last quarter. Finally, Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $736,806,000. Institutional investors and hedge funds own 83.70% of the company’s stock.
Shares of NASDAQ:QCOM opened at $79.89 on Monday. The stock has a market cap 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. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $82.52.
In related news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Cristiano R. Amon sold 13,466 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were 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. Company insiders own 0.11% of the company’s stock.
A number of analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on QUALCOMM in a research note on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $89.00 price objective (up previously from $75.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. Argus increased their price objective on QUALCOMM to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $76.32.
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QUALCOMM Company Profile
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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