Patten Group Inc. grew its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,066 shares of the wireless technology company’s stock after acquiring an additional 125 shares during the quarter. Patten Group Inc.’s holdings in QUALCOMM were worth $271,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Bernardo Wealth Planning LLC purchased a new stake in shares of QUALCOMM in the second quarter valued at about $223,000. RMB Capital Management LLC boosted its holdings in shares of QUALCOMM by 3.4% in the second quarter. RMB Capital Management LLC now owns 5,344 shares of the wireless technology company’s stock valued at $407,000 after acquiring an additional 177 shares in the last quarter. AMP Capital Investors Ltd boosted its holdings in shares of QUALCOMM by 9.5% in the second quarter. AMP Capital Investors Ltd now owns 481,235 shares of the wireless technology company’s stock valued at $36,299,000 after acquiring an additional 41,689 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of QUALCOMM by 8.2% in the second quarter. Private Advisor Group LLC now owns 42,734 shares of the wireless technology company’s stock valued at $3,247,000 after acquiring an additional 3,249 shares in the last quarter. Finally, VisionPoint Advisory Group LLC boosted its holdings in shares of QUALCOMM by 5.7% in the second quarter. VisionPoint Advisory Group LLC now owns 4,009 shares of the wireless technology company’s stock valued at $305,000 after acquiring an additional 216 shares in the last quarter. 77.27% of the stock is owned by institutional investors.
Shares of NASDAQ QCOM opened at $90.56 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 2.74. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $94.11. The firm has a 50-day moving average price of $87.10 and a 200 day moving average price of $80.19. The stock has a market capitalization of $103.06 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 1.85 and a beta of 1.62.
Several brokerages have recently weighed in on QCOM. Mizuho raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $100.00 in a report on Friday, November 15th. Deutsche Bank lifted their target price on shares of QUALCOMM from $82.00 to $96.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal” rating and lifted their target price for the company from $89.00 to $90.00 in a report on Monday, November 11th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating and issued a $101.00 target price on shares of QUALCOMM in a report on Tuesday, November 19th. Finally, BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $86.71.
In other QUALCOMM news, President Cristiano R. Amon sold 8,611 shares of QUALCOMM stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.03, for a total transaction of $689,138.33. Following the completion of the transaction, the president now owns 50,434 shares in the company, valued at $4,036,233.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Erin L. Polek sold 3,190 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $84.65, for a total transaction of $270,033.50. Following the transaction, the chief accounting officer now owns 1,040 shares of the company’s stock, valued at approximately $88,036. The disclosure for this sale can be found here. Insiders sold 113,744 shares of company stock valued at $9,631,265 in the last quarter. Company insiders own 0.11% of the company’s stock.
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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