Vision Capital Management Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Vision Capital Management Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 25.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,514 shares of the wireless technology company’s stock after acquiring an additional 9,323 shares during the period. QUALCOMM accounts for about 1.0% of Vision Capital Management Inc.’s holdings, making the stock its 26th biggest position. Vision Capital Management Inc.’s holdings in QUALCOMM were worth $6,991,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC grew its stake in QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank purchased a new position in QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Northern Trust Corp grew its stake in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after buying an additional 1,424,106 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on QCOM shares. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Loop Capital cut their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Robert W. Baird cut their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Citigroup boosted their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $186.39.

QUALCOMM Stock Down 0.5%

Shares of QUALCOMM stock opened at $158.60 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $152.00 and its two-hundred day simple moving average is $155.07. The company has a market cap of $174.14 billion, a P/E ratio of 16.17, a PEG ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by company insiders.

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.