QUALCOMM Incorporated (NASDAQ:QCOM) Stake Raised by Nordea Investment Management AB

Nordea Investment Management AB boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 39.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,841,103 shares of the wireless technology company’s stock after acquiring an additional 523,244 shares during the quarter. Nordea Investment Management AB owned 0.17% of QUALCOMM worth $284,708,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its stake in shares of 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 in the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after acquiring an additional 18,315 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after acquiring an additional 50,438 shares in the last quarter. Aljian Capital Management LLC acquired a new position in shares of QUALCOMM during the third quarter valued at approximately $1,820,000. Finally, Captrust Financial Advisors raised its holdings in QUALCOMM by 4.6% during the third quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after purchasing an additional 29,287 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.7 %

Shares of QUALCOMM stock opened at $157.83 on Monday. The firm has a market cap of $175.35 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.65 and a beta of 1.25. The stock has a 50-day simple moving average of $160.64 and a 200-day simple moving average of $171.56. QUALCOMM Incorporated has a 52-week low of $134.94 and a 52-week high of $230.63. 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 earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on 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 owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

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.