Townsquare Capital LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Townsquare Capital LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 157,679 shares of the wireless technology company’s stock after acquiring an additional 6,029 shares during the period. Townsquare Capital LLC’s holdings in QUALCOMM were worth $24,223,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Distillate Capital Partners LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $33,726,000. Crux Wealth Advisors purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $455,000. Rockefeller Capital Management L.P. increased its holdings in QUALCOMM by 10.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 367,046 shares of the wireless technology company’s stock worth $56,391,000 after buying an additional 35,124 shares in the last quarter. Petros Family Wealth LLC purchased a new position in QUALCOMM in the 4th quarter worth about $491,000. Finally, NFP Retirement Inc. lifted its stake in QUALCOMM by 14.5% during the 4th quarter. NFP Retirement Inc. now owns 1,868 shares of the wireless technology company’s stock valued at $287,000 after acquiring an additional 236 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 related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,666 shares of company stock worth $5,047,052. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $139.25 on Friday. The stock has a 50-day moving average price of $156.49 and a 200 day moving average price of $161.46. The stock has a market capitalization of $154.01 billion, a P/E ratio of 14.88, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QCOM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of “Hold” and a consensus target price of $201.21.

About QUALCOMM

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.