Jaffetilchin Investment Partners LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 199.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,383 shares of the wireless technology company's stock after acquiring an additional 14,231 shares during the period. Jaffetilchin Investment Partners LLC's holdings in QUALCOMM were worth $3,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the company. Family Office Research LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $263,000. Summit Financial Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 0.7% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 51,919 shares of the wireless technology company's stock worth $8,839,000 after acquiring an additional 347 shares during the period. Covestor Ltd increased its position in QUALCOMM by 22.9% during the fourth quarter. Covestor Ltd now owns 1,188 shares of the wireless technology company's stock worth $183,000 after purchasing an additional 221 shares during the last quarter. First Foundation Advisors raised its stake in QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after purchasing an additional 45,769 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in QUALCOMM by 0.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 587,206 shares of the wireless technology company's stock valued at $90,207,000 after purchasing an additional 5,288 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Transactions at QUALCOMM
In related news, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,666 shares of company stock valued at $5,047,052. Corporate insiders own 0.08% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on QCOM. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $201.21.
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QUALCOMM Stock Performance
Shares of NASDAQ:QCOM traded up $4.85 on Friday, reaching $139.25. The company's stock had a trading volume of 10,947,680 shares, compared to its average volume of 8,881,149. The stock has a market capitalization of $154.01 billion, a P/E ratio of 14.88, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The stock's 50-day moving average is $156.49 and its two-hundred day moving average is $161.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.
About QUALCOMM
(Free Report)
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.
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