Mutual of America Capital Management LLC Sells 4,475 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Mutual of America Capital Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,602 shares of the wireless technology company’s stock after selling 4,475 shares during the quarter. Mutual of America Capital Management LLC’s holdings in QUALCOMM were worth $19,755,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Realta Investment Advisors purchased a new position in QUALCOMM during the first quarter valued at approximately $706,000. Kathmere Capital Management LLC raised its position in shares of QUALCOMM by 38.0% during the first quarter. Kathmere Capital Management LLC now owns 1,802 shares of the wireless technology company’s stock valued at $277,000 after buying an additional 496 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management raised its position in shares of QUALCOMM by 4.6% during the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 28,073 shares of the wireless technology company’s stock valued at $4,312,000 after buying an additional 1,242 shares during the last quarter. Coyle Financial Counsel LLC bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $217,000. Finally, Berbice Capital Management LLC raised its position in shares of QUALCOMM by 200.0% during the first quarter. Berbice Capital Management LLC now owns 300 shares of the wireless technology company’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, June 17th. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $186.39.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were 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 of the company’s stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 1.0%

QCOM stock opened at $157.46 on Friday. The stock has a market capitalization of $172.89 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.03 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $152.83 and its two-hundred day simple moving average is $155.03.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results 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 firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 earnings per share. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

About QUALCOMM

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.