Isthmus Partners LLC Sells 88,803 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Isthmus Partners LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 96.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,801 shares of the wireless technology company’s stock after selling 88,803 shares during the quarter. Isthmus Partners LLC’s holdings in QUALCOMM were worth $474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Norges Bank bought a new position in QUALCOMM during the 4th quarter valued at approximately $2,507,978,000. International Assets Investment Management LLC grew its holdings in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares during the period. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock worth $8,552,835. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $1.46 during trading hours on Tuesday, reaching $209.64. The company had a trading volume of 5,993,477 shares, compared to its average volume of 9,129,235. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a fifty day moving average of $203.68 and a 200-day moving average of $174.39. The company has a market capitalization of $233.96 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.46 and a beta of 1.27. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barclays upped their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler increased their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $195.25.

QUALCOMM Company 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.