RiverPark Advisors LLC lessened its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 33.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 440,000 shares of the wireless technology company’s stock after selling 220,000 shares during the period. QUALCOMM accounts for about 4.0% of RiverPark Advisors LLC’s portfolio, making the stock its 10th largest position. RiverPark Advisors LLC’s holdings in QUALCOMM were worth $28,169,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Truewealth LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $102,000. Gradient Investments LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $120,000. Cerebellum GP LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $126,000. Avestar Capital LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $141,000. Finally, Cable Hill Partners LLC boosted its holdings in shares of QUALCOMM by 1,316.7% during the third quarter. Cable Hill Partners LLC now owns 3,145 shares of the wireless technology company’s stock worth $163,000 after purchasing an additional 2,923 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.

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NASDAQ:QCOM opened at $54.77 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The stock has a market capitalization of $82,500.63, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.73 and a beta of 1.44.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company posted $1.19 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. equities research analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.

In other QUALCOMM news, EVP Alexander H. Rogers sold 663 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $56.59, for a total value of $37,519.17. Following the transaction, the executive vice president now directly owns 8,794 shares of the company’s stock, valued at $497,652.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 1,180 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $66.94, for a total value of $78,989.20. The disclosure for this sale can be found here. Insiders sold 52,682 shares of company stock worth $3,306,030 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on QCOM. KeyCorp raised their price objective on QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Canaccord Genuity raised their price objective on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price objective on the stock. in a report on Thursday, February 1st. Finally, Deutsche Bank began coverage on QUALCOMM in a report on Thursday, March 15th. They set a “hold” rating and a $60.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $67.82.

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QUALCOMM Profile

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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