Stiles Financial Services Inc Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stiles Financial Services Inc boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 24,549 shares of the wireless technology company’s stock after acquiring an additional 2,298 shares during the period. QUALCOMM accounts for approximately 1.6% of Stiles Financial Services Inc’s investment portfolio, making the stock its 12th biggest holding. Stiles Financial Services Inc’s holdings in QUALCOMM were worth $3,550,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in QCOM. Fairfield Bush & CO. increased its holdings in shares of QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after acquiring an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in QUALCOMM by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after buying an additional 245,335 shares during the last quarter. Merit Financial Group LLC boosted its position in QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after buying an additional 555 shares during the last quarter. NewEdge Advisors LLC boosted its position in QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after buying an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after buying an additional 79,827 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Piper Sandler increased 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. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity Group raised 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. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.81.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,360 shares of company stock worth $7,323,678. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $1.95 during trading on Tuesday, reaching $175.57. The company had a trading volume of 5,027,278 shares, compared to its average volume of 8,753,602. 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 Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The firm has a market capitalization of $195.94 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The stock’s fifty day moving average price is $160.79 and its 200 day moving average price is $139.43.

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

QUALCOMM Company 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.