Nordea Investment Management AB Acquires 523,244 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Nordea Investment Management AB grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 39.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,841,103 shares of the wireless technology company’s stock after purchasing an additional 523,244 shares during the quarter. Nordea Investment Management AB’s holdings in QUALCOMM were worth $284,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wedge Capital Management L L P NC boosted its holdings in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares during the period. Icon Wealth Advisors LLC lifted its stake in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after buying an additional 18,315 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after buying an additional 50,438 shares during the period. Aljian Capital Management LLC acquired a new stake in QUALCOMM during the third quarter worth about $1,820,000. Finally, Captrust Financial Advisors raised its holdings in QUALCOMM by 4.6% in the 3rd quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock valued at $112,969,000 after acquiring an additional 29,287 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Finally, Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Trading Up 2.7 %

Shares of QCOM opened at $157.83 on Monday. The stock’s fifty day simple moving average is $160.64 and its 200-day simple moving average is $171.56. The firm has a market capitalization of $175.35 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $134.94 and a 12-month high of $230.63. 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 earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM 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.