Migdal Insurance & Financial Holdings Ltd. Sells 1,210 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,151 shares of the wireless technology company’s stock after selling 1,210 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in QUALCOMM were worth $3,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM during the first quarter worth $26,000. DHJJ Financial Advisors Ltd. bought a new position in shares of QUALCOMM during the third quarter worth $26,000. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Fortitude Family Office LLC acquired a new position in QUALCOMM in the 4th quarter worth $35,000. Finally, Pacific Center for Financial Services acquired a new position in QUALCOMM in the 1st quarter worth $31,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on QCOM shares. Susquehanna upped their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Citigroup cut 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. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Mizuho upped their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Trading Down 2.2 %

Shares of QCOM stock traded down $3.65 during trading hours on Wednesday, hitting $164.93. 3,870,265 shares of the company’s stock traded hands, compared to its average volume of 8,548,497. The stock’s 50 day simple moving average is $164.11 and its 200 day simple moving average is $142.05. The stock has a market cap of $184.06 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current year.

Insider Buying and Selling at QUALCOMM

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

About QUALCOMM

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.