Avanza Fonder AB Acquires New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Avanza Fonder AB acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 112,515 shares of the wireless technology company’s stock, valued at approximately $17,285,000. QUALCOMM comprises 0.5% of Avanza Fonder AB’s holdings, making the stock its 27th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings 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 acquiring an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $2,058,000. Burney Co. raised its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after purchasing an additional 18,315 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Citigroup reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.4 %

Shares of QCOM opened at $163.66 on Friday. The firm has a market cap of $181.83 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a 50 day simple moving average of $159.21 and a two-hundred day simple moving average of $169.34.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal 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.