Pinnacle Bank Acquires Shares of 5,146 QUALCOMM, Inc. (QCOM)

Pinnacle Bank purchased a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,146 shares of the wireless technology company’s stock, valued at approximately $293,000.

Other large investors have also recently made changes to their positions in the company. Boenning & Scattergood Inc. grew its holdings in shares of QUALCOMM by 3.1% during the 4th quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock valued at $372,000 after acquiring an additional 197 shares in the last quarter. Evanson Asset Management LLC grew its holdings in shares of QUALCOMM by 4.9% during the 4th quarter. Evanson Asset Management LLC now owns 4,231 shares of the wireless technology company’s stock valued at $241,000 after acquiring an additional 199 shares in the last quarter. Highland Capital Management LLC grew its holdings in shares of QUALCOMM by 0.4% during the 4th quarter. Highland Capital Management LLC now owns 53,274 shares of the wireless technology company’s stock valued at $3,032,000 after acquiring an additional 200 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of QUALCOMM by 7.4% during the 4th quarter. Global Retirement Partners LLC now owns 3,138 shares of the wireless technology company’s stock valued at $179,000 after acquiring an additional 215 shares in the last quarter. Finally, Baystate Wealth Management LLC grew its holdings in shares of QUALCOMM by 13.8% during the 4th quarter. Baystate Wealth Management LLC now owns 1,811 shares of the wireless technology company’s stock valued at $100,000 after acquiring an additional 219 shares in the last quarter. 83.69% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $95.00 in a report on Tuesday. JPMorgan Chase & Co. reissued a “buy” rating and set a $88.00 target price on shares of QUALCOMM in a research report on Tuesday. BidaskClub raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Sanford C. Bernstein set a $60.00 target price on shares of QUALCOMM and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.13.

QCOM opened at $86.64 on Friday. The company has a market capitalization of $104.86 billion, a P/E ratio of 27.16, a PEG ratio of 2.81 and a beta of 1.22. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $88.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.11. The business had revenue of $4.80 billion for 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%. The business’s quarterly revenue was down 21.3% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. As a group, equities research analysts forecast that QUALCOMM, Inc. will post 3.14 earnings per share for the current fiscal year.

In other news, 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 transaction of $807,960.00. Following the sale, the president now owns 37,614 shares of the company’s stock, valued at $2,256,840. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of QUALCOMM stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $29,031,593.40. Following the sale, the insider now directly owns 848,877 shares in the company, valued at approximately $29,031,593.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 902,343 shares of company stock valued at $31,869,553. 0.11% of the stock is currently owned by insiders.

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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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