QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Farmers Trust Co.

Farmers Trust Co. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,136 shares of the wireless technology company’s stock after acquiring an additional 201 shares during the quarter. Farmers Trust Co.’s holdings in QUALCOMM were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of QCOM. State Street Corp increased its position in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the period. Finally, Van ECK Associates Corp lifted its stake in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. 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 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QCOM. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. UBS Group lifted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

QUALCOMM Stock Performance

Shares of QCOM traded down $1.97 during trading hours on Wednesday, reaching $158.55. 3,592,440 shares of the company traded hands, compared to its average volume of 6,300,794. QUALCOMM Incorporated has a 1-year low of $136.03 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market cap of $176.15 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The stock’s fifty day moving average is $160.08 and its 200 day moving average is $170.80.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

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.