Nordea Investment Management AB Boosts Stake in QUALCOMM, Inc. (NASDAQ:QCOM)

Nordea Investment Management AB boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 264,630 shares of the wireless technology company’s stock after acquiring an additional 6,944 shares during the quarter. Nordea Investment Management AB’s holdings in QUALCOMM were worth $15,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Lavaca Capital LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $25,000. Csenge Advisory Group acquired a new position in shares of QUALCOMM during the third quarter worth about $28,000. Transamerica Financial Advisors Inc. lifted its stake in shares of QUALCOMM by 688.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 537 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $36,000. Finally, Pearl River Capital LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

QCOM has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on QUALCOMM in a research note on Wednesday, March 27th. They issued a “neutral” rating and a $54.00 price target on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $89.00 price target (up previously from $75.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. Argus boosted their price target on QUALCOMM to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. QUALCOMM has an average rating of “Buy” and a consensus target price of $77.13.

In other news, President Cristiano R. Amon sold 13,466 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the transaction, the president now directly owns 37,614 shares of the company’s stock, valued at $2,256,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the transaction, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

QUALCOMM stock traded up $0.11 during midday trading on Wednesday, hitting $86.83. The stock had a trading volume of 39,173,449 shares, compared to its average volume of 18,312,404. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25. The firm has a market cap of $96.69 billion, a P/E ratio of 27.22, a P/E/G ratio of 2.59 and a beta of 1.22. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $88.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. QUALCOMM’s quarterly revenue was down 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities research analysts anticipate that QUALCOMM, Inc. will post 3.14 earnings per share for the current year.

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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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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