Gateway Investment Advisers LLC Has $44.42 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Gateway Investment Advisers LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,130 shares of the wireless technology company’s stock after selling 224 shares during the quarter. Gateway Investment Advisers LLC’s holdings in QUALCOMM were worth $44,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. State Street Corp lifted its stake in shares of QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares during the last quarter. Geode Capital Management LLC increased its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc increased its holdings in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after purchasing an additional 498,284 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $1.57 during trading hours on Thursday, reaching $162.84. The stock had a trading volume of 580,921 shares, compared to its average volume of 6,403,357. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market cap of $180.92 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The stock has a 50 day simple moving average of $159.38 and a 200 day simple moving average of $169.37.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QCOM shares. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

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.