Gateway Investment Advisers LLC Has $49.21 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Gateway Investment Advisers LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 289,354 shares of the wireless technology company’s stock after acquiring an additional 176 shares during the quarter. Gateway Investment Advisers LLC’s holdings in QUALCOMM were worth $49,205,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth about $27,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC grew its stake in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $37,000. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Rosenblatt Securities upped their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $209.38.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,245 shares of company stock worth $3,679,407. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of QCOM traded up $1.46 on Friday, reaching $169.98. The company’s stock had a trading volume of 3,801,395 shares, compared to its average volume of 9,064,405. The stock has a market capitalization of $189.70 billion, a PE ratio of 22.85, a PEG ratio of 1.71 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The firm has a fifty day moving average of $167.85 and a 200-day moving average of $181.98.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

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.