Stiles Financial Services Inc Buys 2,298 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Stiles Financial Services Inc lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,549 shares of the wireless technology company’s stock after acquiring an additional 2,298 shares during the period. QUALCOMM accounts for about 1.6% of Stiles Financial Services Inc’s investment portfolio, making the stock its 12th largest position. Stiles Financial Services Inc’s holdings in QUALCOMM were worth $3,550,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Rheos Capital Works Inc. grew its holdings in shares of QUALCOMM by 36.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after purchasing an additional 42,500 shares in the last quarter. Peoples Bank OH acquired a new position in QUALCOMM during the 4th quarter worth about $219,000. HF Advisory Group LLC acquired a new position in QUALCOMM during the 3rd quarter worth about $629,000. Bank Hapoalim BM lifted its holdings in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the period. Finally, DnB Asset Management AS raised its position in shares of QUALCOMM by 31.1% in the 3rd quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after acquiring an additional 215,522 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $1.95 during midday trading on Tuesday, hitting $175.57. 5,027,278 shares of the stock traded hands, compared to its average volume of 8,753,602. The firm has a market capitalization of $195.94 billion, a P/E ratio of 25.17, a PEG ratio of 2.34 and a beta of 1.41. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a 50-day moving average of $160.79 and a two-hundred day moving average of $139.43.

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

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the sale, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,360 shares of company stock worth $7,323,678. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler boosted their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Cantor Fitzgerald boosted their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday. Mizuho boosted their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.81.

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.