Flputnam Investment Management Co. Sells 280 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Flputnam Investment Management Co. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,595 shares of the wireless technology company’s stock after selling 280 shares during the quarter. Flputnam Investment Management Co.’s holdings in QUALCOMM were worth $1,966,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. lifted its holdings in QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after purchasing an additional 42,500 shares in the last quarter. Peoples Bank OH purchased a new position in shares of QUALCOMM in the fourth quarter worth $219,000. HF Advisory Group LLC purchased a new position in shares of QUALCOMM in the third quarter worth $629,000. Bank Hapoalim BM lifted its holdings in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares in the last quarter. Finally, DnB Asset Management AS lifted its holdings in shares of QUALCOMM by 31.1% in the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after buying an additional 215,522 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QCOM. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday. They set an “in-line” rating and a $177.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Trading Down 0.7 %

NASDAQ QCOM opened at $168.58 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market capitalization of $188.14 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The company’s 50-day simple moving average is $164.11 and its two-hundred day simple moving average is $142.05. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,360 shares of company stock worth $7,184,678. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.