Assenagon Asset Management S.A. Sells 372,356 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Assenagon Asset Management S.A. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 46.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 429,015 shares of the wireless technology company’s stock after selling 372,356 shares during the quarter. Assenagon Asset Management S.A.’s holdings in QUALCOMM were worth $65,905,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP acquired a new stake in QUALCOMM in the second quarter worth $30,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on QCOM. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $207.11.

QUALCOMM Stock Up 3.1 %

QUALCOMM stock opened at $164.41 on Thursday. QUALCOMM Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63. The stock has a market cap of $182.66 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.65 and a beta of 1.25. The company’s 50-day moving average price is $159.38 and its two-hundred day moving average price is $169.37. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by company insiders.

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.