Edgar Lomax Co. VA Sells 2,135 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Edgar Lomax Co. VA trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 110,345 shares of the wireless technology company’s stock after selling 2,135 shares during the period. Edgar Lomax Co. VA’s holdings in QUALCOMM were worth $16,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB grew its position in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $2,058,000. Burney Co. increased its position in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM in the fourth quarter valued at about $240,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.6 %

Shares of QCOM opened at $136.54 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $151.01 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The business’s 50 day simple moving average is $153.10 and its 200-day simple moving average is $160.40.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the transaction, the chief financial officer now owns 56,445 shares in the company, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,666 shares of company stock valued at $5,047,052. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QCOM. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $201.21.

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.