Tocqueville Asset Management L.P. boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 731,947 shares of the wireless technology company’s stock after buying an additional 17,172 shares during the period. Tocqueville Asset Management L.P.’s holdings in QUALCOMM were worth $46,859,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truewealth LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $102,000. Gradient Investments LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $120,000. Cerebellum GP LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $126,000. Cable Hill Partners LLC lifted its stake in shares of QUALCOMM by 1,316.7% in the 3rd quarter. Cable Hill Partners LLC now owns 3,145 shares of the wireless technology company’s stock valued at $163,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Focused Wealth Management Inc lifted its stake in shares of QUALCOMM by 1,176.2% in the 4th quarter. Focused Wealth Management Inc now owns 2,680 shares of the wireless technology company’s stock valued at $172,000 after purchasing an additional 2,470 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors.
Shares of NASDAQ QCOM opened at $55.20 on Friday. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. The stock has a market cap of $81,079.48, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.70 and a beta of 1.44.
In other QUALCOMM news, EVP Alexander H. Rogers sold 663 shares of the company’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $56.59, for a total transaction of $37,519.17. Following the sale, the executive vice president now owns 8,794 shares in the company, valued at approximately $497,652.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares in the company, valued at approximately $709,484.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,682 shares of company stock worth $3,306,030. 0.17% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. Citigroup assumed coverage on QUALCOMM in a research note on Thursday. They issued a “neutral” rating and a $58.00 price target on the stock. UBS assumed coverage on QUALCOMM in a research note on Thursday, April 5th. They issued a “neutral” rating and a $56.00 price target on the stock. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 22nd. Morgan Stanley assumed coverage on QUALCOMM in a research note on Monday, March 19th. They issued an “underweight” rating and a $55.00 price target on the stock. Finally, Wells Fargo assumed coverage on QUALCOMM in a research note on Friday, March 16th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.82.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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