Landing Point Financial Group LLC Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Landing Point Financial Group LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,308 shares of the wireless technology company’s stock, valued at approximately $1,074,000. QUALCOMM accounts for 0.8% of Landing Point Financial Group LLC’s investment portfolio, making the stock its 15th biggest holding.

Several other large investors also recently modified their holdings of QCOM. Te Ahumairangi Investment Management Ltd lifted its holdings in QUALCOMM by 60.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company’s stock worth $6,349,000 after purchasing an additional 14,213 shares during the last quarter. Anchor Investment Management LLC increased its position in QUALCOMM by 2.2% during the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company’s stock worth $5,901,000 after buying an additional 747 shares during the period. World Investment Advisors LLC lifted its holdings in shares of QUALCOMM by 304.0% during the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company’s stock worth $7,680,000 after buying an additional 33,985 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of QUALCOMM by 620.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company’s stock valued at $9,466,000 after acquiring an additional 47,945 shares during the period. Finally, Optimist Retirement Group LLC grew its stake in shares of QUALCOMM by 4.1% in the third quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock valued at $2,309,000 after acquiring an additional 531 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and a consensus price target of $201.21.

QUALCOMM Stock Performance

QUALCOMM stock opened at $136.54 on Friday. The business has a 50 day moving average of $153.10 and a 200-day moving average of $160.34. The company has a market capitalization of $151.01 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. 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 results 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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock valued at $5,047,052 in the last three months. Insiders own 0.08% of the company’s stock.

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.