Mathes Company Inc. Invests $239,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Mathes Company Inc. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,650 shares of the wireless technology company’s stock, valued at approximately $239,000.

Several other hedge funds have also modified their holdings of the company. DHJJ Financial Advisors Ltd. purchased a new position in QUALCOMM in the 3rd quarter valued at about $26,000. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in QUALCOMM in the 1st quarter valued at about $26,000. Legacy Financial Group LLC purchased a new position in QUALCOMM in the 3rd quarter valued at about $29,000. Finally, Pacific Center for Financial Services purchased a new position in QUALCOMM in the 1st quarter valued at about $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.7 %

QUALCOMM stock traded down $1.26 during trading on Tuesday, hitting $168.58. The company had a trading volume of 6,262,658 shares, compared to its average volume of 8,612,844. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The company’s 50 day simple moving average is $163.62 and its 200-day simple moving average is $141.64. The stock has a market cap of $188.14 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41.

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

Insider Activity at QUALCOMM

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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,360 shares of company stock worth $7,184,678. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QCOM shares. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Evercore ISI started coverage on shares of QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 target price on the stock. TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Citigroup lowered shares of 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. Finally, KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.90.

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.