Perkins Coie Trust Co Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Perkins Coie Trust Co decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,301 shares of the wireless technology company’s stock after selling 14,240 shares during the period. QUALCOMM makes up approximately 1.2% of Perkins Coie Trust Co’s holdings, making the stock its 25th largest position. Perkins Coie Trust Co’s holdings in QUALCOMM were worth $5,323,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Czech National Bank increased its stake in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after acquiring an additional 13,888 shares during the period. Legal & General Group Plc lifted its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares during the period. City Holding Co. lifted its holdings in shares of QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after buying an additional 199 shares during the period. Heritage Wealth Management Inc. acquired a new position in QUALCOMM during the second quarter worth $1,539,000. Finally, Federated Hermes Inc. raised its position in QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after acquiring an additional 534,176 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.3 %

NASDAQ:QCOM traded up $0.56 during trading hours on Wednesday, reaching $166.90. 554,184 shares of the company were exchanged, compared to its average volume of 9,086,722. The firm has a market cap of $186.26 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.69 and a beta of 1.28. The stock has a 50 day simple moving average of $167.76 and a 200 day simple moving average of $182.14. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on QCOM shares. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Barclays raised their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Cantor Fitzgerald dropped their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $209.38.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,245 shares of company stock valued at $3,679,407. Corporate insiders own 0.08% of the company’s stock.

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.