QUALCOMM, Inc. (NASDAQ:QCOM) Stock Holdings Lifted by Cullinan Associates Inc.

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Cullinan Associates Inc. lifted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,860 shares of the wireless technology company’s stock after buying an additional 700 shares during the quarter. Cullinan Associates Inc.’s holdings in QUALCOMM were worth $870,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Price T Rowe Associates Inc. MD grew its position in QUALCOMM by 49.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock worth $2,672,850,000 after acquiring an additional 11,686,131 shares in the last quarter. Primecap Management Co. CA grew its position in QUALCOMM by 0.3% in the second quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock worth $1,880,201,000 after acquiring an additional 83,270 shares in the last quarter. Morgan Stanley grew its position in QUALCOMM by 126.9% in the second quarter. Morgan Stanley now owns 15,465,753 shares of the wireless technology company’s stock worth $1,176,482,000 after acquiring an additional 8,648,635 shares in the last quarter. Nuveen Asset Management LLC grew its position in QUALCOMM by 1,405.4% in the second quarter. Nuveen Asset Management LLC now owns 11,560,171 shares of the wireless technology company’s stock worth $879,382,000 after acquiring an additional 10,792,248 shares in the last quarter. Finally, Stifel Financial Corp grew its position in QUALCOMM by 1.4% in the third quarter. Stifel Financial Corp now owns 3,236,188 shares of the wireless technology company’s stock worth $247,062,000 after acquiring an additional 45,360 shares in the last quarter. 77.27% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM stock opened at $89.67 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.72 and a debt-to-equity ratio of 2.74. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $94.11. The company has a market cap of $103.41 billion, a PE ratio of 31.57, a PEG ratio of 1.86 and a beta of 1.62. The company’s 50-day moving average is $87.19 and its two-hundred day moving average is $80.26.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was down 17.2% compared to the same quarter last year. Research analysts forecast that QUALCOMM, Inc. will post 3.48 EPS for the current year.

A number of analysts have recently weighed in on the stock. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Wednesday. Cowen restated a “buy” rating and issued a $100.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Mizuho upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $100.00 in a research note on Friday, November 15th. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank boosted their price objective on shares of QUALCOMM from $82.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $87.84.

In related news, President Cristiano R. Amon sold 33,932 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.87, for a total value of $2,879,808.84. Following the sale, the president now directly owns 66,718 shares in the company, valued at approximately $5,662,356.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 5,237 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total transaction of $466,093.00. Following the completion of the sale, the chief financial officer now owns 19,018 shares in the company, valued at $1,692,602. The disclosure for this sale can be found here. Insiders sold a total of 113,744 shares of company stock worth $9,631,265 over the last quarter. 0.11% of the stock is currently owned by corporate insiders.

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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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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