Cullen Investment Group LTD. Has $1.64 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cullen Investment Group LTD. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,671 shares of the wireless technology company’s stock after selling 221 shares during the period. Cullen Investment Group LTD.’s holdings in QUALCOMM were worth $1,639,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Nordea Investment Management AB grew its position in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares during the last quarter. Icon Wealth Advisors LLC grew its position in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after purchasing an additional 18,315 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares in the last quarter. Finally, Aljian Capital Management LLC purchased a new position in shares of QUALCOMM during the third quarter worth approximately $1,820,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QCOM shares. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Finally, Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Price Performance

NASDAQ QCOM opened at $157.13 on Tuesday. The stock has a market capitalization of $174.57 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $137.35 and a 1-year high of $230.63. The business’s fifty day moving average price is $159.51 and its 200-day moving average price is $169.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate 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 net margin of 26.03% and a return on equity of 38.81%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. 0.08% of the stock is owned by company insiders.

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.