Foster Dykema Cabot & Partners LLC Sells 195 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Foster Dykema Cabot & Partners LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,223 shares of the wireless technology company’s stock after selling 195 shares during the quarter. Foster Dykema Cabot & Partners LLC’s holdings in QUALCOMM were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter worth about $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM during the 4th quarter worth $527,053,000. Franklin Resources Inc. raised its position in QUALCOMM by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after purchasing an additional 709,644 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after purchasing an additional 707,468 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QCOM opened at $135.74 on Thursday. The firm’s 50-day simple moving average is $154.50 and its two-hundred day simple moving average is $160.83. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock has a market cap of $150.13 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on QCOM shares. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $201.21.

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.