Rakuten Securities Inc. Makes New $376,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Rakuten Securities Inc. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,602 shares of the wireless technology company’s stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares during the period. Chilton Capital Management LLC raised its stake in shares of QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. Means Investment CO. Inc. raised its stake in shares of QUALCOMM by 1.2% during the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after purchasing an additional 71 shares in the last quarter. Marino Stram & Associates LLC raised its stake in shares of QUALCOMM by 2.5% during the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after purchasing an additional 73 shares in the last quarter. Finally, Certified Advisory Corp raised its stake in shares of QUALCOMM by 0.7% during the first quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock valued at $1,770,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 price target on the stock. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Stock Down 2.2 %

NASDAQ:QCOM traded down $3.64 on Wednesday, hitting $164.94. 2,936,848 shares of the company’s stock traded hands, compared to its average volume of 8,536,059. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The firm has a 50-day moving average price of $164.11 and a 200-day moving average price of $142.05. The company has a market cap of $184.07 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41.

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