QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by First American Trust FSB

First American Trust FSB trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,772 shares of the wireless technology company’s stock after selling 2,464 shares during the period. First American Trust FSB’s holdings in QUALCOMM were worth $7,199,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM in the fourth quarter worth approximately $1,467,351,000. Cowa LLC acquired a new position in QUALCOMM in the first quarter worth approximately $94,000. Morgan Stanley grew its position in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after buying an additional 3,929,586 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,360 shares of company stock worth $7,184,678. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock traded down $1.45 during trading hours on Monday, reaching $169.84. 6,567,047 shares of the company were exchanged, compared to its average volume of 8,645,328. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The stock’s fifty day moving average is $163.10 and its two-hundred day moving average is $141.23. The company has a market cap of $189.54 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 2.34 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on QCOM. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Susquehanna boosted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Barclays boosted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.90.

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.