Pinnacle Bancorp Inc. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Pinnacle Bancorp Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the fourth quarter, HoldingsChannel reports. The firm owned 3,371 shares of the wireless technology company’s stock after purchasing an additional 191 shares during the period. Pinnacle Bancorp Inc.’s holdings in QUALCOMM were worth $488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Rheos Capital Works Inc. raised its holdings in QUALCOMM by 36.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after buying an additional 42,500 shares during the period. Peoples Bank OH purchased a new stake in QUALCOMM in the 4th quarter valued at about $219,000. HF Advisory Group LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at about $629,000. Bank Hapoalim BM raised its holdings in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the period. Finally, DnB Asset Management AS raised its holdings in QUALCOMM by 31.1% in the 3rd quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock valued at $100,893,000 after buying an additional 215,522 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,360 shares of company stock valued at $7,323,678. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on QCOM shares. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. KeyCorp lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Piper Sandler boosted their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.81.

QUALCOMM Price Performance

QCOM stock traded up $2.09 on Monday, reaching $173.62. 4,811,007 shares of the company’s stock were exchanged, compared to its average volume of 8,809,198. The stock has a fifty day moving average of $160.31 and a 200-day moving average of $138.96. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm has a market cap of $193.76 billion, a PE ratio of 25.07, a P/E/G ratio of 2.34 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

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