QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Reduced by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,933 shares of the wireless technology company’s stock after selling 827 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in QUALCOMM were worth $2,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at $26,000. DHJJ Financial Advisors Ltd. bought a new position in QUALCOMM during the third quarter valued at about $26,000. Financial Gravity Asset Management Inc. lifted its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $35,000. Finally, Pacific Center for Financial Services acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $31,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock worth $7,184,678 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $171.29 on Monday. The firm has a market capitalization of $191.16 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.34 and a beta of 1.41. The stock has a fifty day moving average price of $163.10 and a two-hundred day moving average price of $141.23. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on QCOM shares. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a report on Thursday, February 1st. Rosenblatt Securities boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald upped their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Finally, Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.90.

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.