Gabelli Funds LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Gabelli Funds LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,145 shares of the wireless technology company’s stock after selling 175 shares during the period. Gabelli Funds LLC’s holdings in QUALCOMM were worth $2,941,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM in the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.6 %

Shares of QCOM stock opened at $136.54 on Friday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm’s 50-day simple moving average is $153.10 and its 200-day simple moving average is $160.40. The firm has a market cap of $151.01 billion, a P/E ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 648 shares of the business’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the transaction, the chief financial officer now owns 56,445 shares in the company, valued at $7,964,953.95. The trade was a 1.13 % 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 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Citigroup dropped their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $201.21.

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.