9,763 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by GraniteShares Advisors LLC

GraniteShares Advisors LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,763 shares of the wireless technology company’s stock, valued at approximately $1,412,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Rheos Capital Works Inc. grew its position in shares of QUALCOMM by 36.8% in the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after purchasing an additional 42,500 shares during the last quarter. Peoples Bank OH acquired a new stake in QUALCOMM during the fourth quarter worth approximately $219,000. HF Advisory Group LLC acquired a new stake in QUALCOMM during the third quarter worth approximately $629,000. Bank Hapoalim BM grew its position in QUALCOMM by 35.0% during the fourth 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 in the last quarter. Finally, DnB Asset Management AS grew its position in QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after buying an additional 215,522 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.7 %

Shares of QCOM stock traded down $1.26 during mid-day trading on Tuesday, hitting $168.58. The company’s stock had a trading volume of 6,386,536 shares, compared to its average volume of 8,614,523. 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 company’s fifty day simple moving average is $163.62 and its 200-day simple moving average is $141.64. The company has a market cap of $188.14 billion, a PE ratio of 24.34, a P/E/G ratio of 2.34 and a beta of 1.41. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The company 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%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock valued at $7,184,678 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald increased their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Piper Sandler raised their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Finally, Canaccord Genuity Group raised their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

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.