UMB Bank n.a. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

UMB Bank n.a. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,990 shares of the wireless technology company’s stock after buying an additional 476 shares during the quarter. UMB Bank n.a.’s holdings in QUALCOMM were worth $6,970,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter worth approximately $30,000. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $32,000. Aspect Partners LLC lifted its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its holdings in shares of QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $168.52 on Friday. The company has a market cap of $187.73 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.71 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The business has a fifty day simple moving average of $167.54 and a 200-day simple moving average of $182.06.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QCOM. Susquehanna raised their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Tigress Financial raised their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.38.

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.