QUALCOMM, Inc. (QCOM) Shares Bought by HighTower Trust Services LTA

HighTower Trust Services LTA increased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 8.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 26,375 shares of the wireless technology company’s stock after buying an additional 2,000 shares during the quarter. HighTower Trust Services LTA’s holdings in QUALCOMM were worth $1,504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QCOM. Choate Investment Advisors raised its holdings in QUALCOMM by 31.8% during the 1st quarter. Choate Investment Advisors now owns 4,929 shares of the wireless technology company’s stock worth $281,000 after buying an additional 1,189 shares during the period. Davis R M Inc. raised its holdings in QUALCOMM by 1.4% during the 1st quarter. Davis R M Inc. now owns 318,298 shares of the wireless technology company’s stock worth $18,153,000 after buying an additional 4,240 shares during the period. CNB Bank raised its holdings in QUALCOMM by 25.4% during the 1st quarter. CNB Bank now owns 7,148 shares of the wireless technology company’s stock worth $408,000 after buying an additional 1,450 shares during the period. Hartford Investment Management Co. raised its holdings in QUALCOMM by 28.3% during the 1st quarter. Hartford Investment Management Co. now owns 178,566 shares of the wireless technology company’s stock worth $10,184,000 after buying an additional 39,397 shares during the period. Finally, Psagot Investment House Ltd. raised its holdings in QUALCOMM by 25.1% during the 1st quarter. Psagot Investment House Ltd. now owns 5,553 shares of the wireless technology company’s stock worth $317,000 after buying an additional 1,115 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Inc/De Qualcomm sold 848,877 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $29,031,593.40. Following the transaction, the insider now owns 848,877 shares in the company, valued at $29,031,593.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James H. Thompson sold 40,000 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the transaction, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The disclosure for this sale can be found here. Insiders sold a total of 902,343 shares of company stock worth $31,869,553 in the last quarter. 0.11% of the stock is owned by corporate insiders.

Several analysts have issued reports on QCOM shares. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a report on Thursday, January 31st. Zacks Investment Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Cowen restated an “outperform” rating and set a $70.00 price objective (down previously from $73.00) on shares of QUALCOMM in a report on Thursday, January 31st. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Bank of America upgraded QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $105.00 in a report on Thursday. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.09.

Shares of QCOM opened at $89.29 on Friday. The stock has a market capitalization of $108.07 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 2.79 and a beta of 1.44. QUALCOMM, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $90.34. 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 (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.14 EPS for the current fiscal year.

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About QUALCOMM

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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Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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