First Hawaiian Bank Sells 430 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Hawaiian Bank reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,898 shares of the wireless technology company’s stock after selling 430 shares during the quarter. First Hawaiian Bank’s holdings in QUALCOMM were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Lantz Financial LLC purchased a new stake in QUALCOMM in the second quarter worth approximately $234,000. Gryphon Financial Partners LLC lifted its holdings in shares of QUALCOMM by 2.8% during the 2nd quarter. Gryphon Financial Partners LLC now owns 2,489 shares of the wireless technology company’s stock valued at $496,000 after buying an additional 67 shares during the period. MGO One Seven LLC boosted its stake in shares of QUALCOMM by 4.8% in the 2nd quarter. MGO One Seven LLC now owns 13,059 shares of the wireless technology company’s stock worth $2,601,000 after buying an additional 604 shares during the last quarter. Tillman Hartley LLC bought a new stake in shares of QUALCOMM in the second quarter worth $220,000. Finally, Angeles Wealth Management LLC increased its position in QUALCOMM by 25.4% during the second quarter. Angeles Wealth Management LLC now owns 6,314 shares of the wireless technology company’s stock valued at $1,258,000 after acquiring an additional 1,278 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM stock opened at $159.08 on Thursday. The company has a fifty day simple moving average of $159.91 and a two-hundred day simple moving average of $170.72. QUALCOMM Incorporated has a 52 week low of $136.03 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $176.74 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction 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 sale, 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. In the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QCOM. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.11.

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.