Eagle Bay Advisors LLC Has $241,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Eagle Bay Advisors LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,570 shares of the wireless technology company’s stock after selling 212 shares during the quarter. Eagle Bay Advisors LLC’s holdings in QUALCOMM were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. CHICAGO TRUST Co NA boosted its stake in shares of QUALCOMM by 12.6% during the fourth quarter. CHICAGO TRUST Co NA now owns 8,921 shares of the wireless technology company’s stock valued at $1,370,000 after purchasing an additional 997 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $54,000. Capital Investment Advisors LLC boosted its stake in shares of QUALCOMM by 2.0% during the fourth quarter. Capital Investment Advisors LLC now owns 264,541 shares of the wireless technology company’s stock valued at $40,639,000 after purchasing an additional 5,256 shares in the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of QUALCOMM by 0.8% during the fourth quarter. Trust Co. of Toledo NA OH now owns 47,597 shares of the wireless technology company’s stock valued at $7,312,000 after purchasing an additional 392 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its stake in shares of QUALCOMM by 26.2% during the fourth quarter. Fiduciary Alliance LLC now owns 5,322 shares of the wireless technology company’s stock valued at $818,000 after purchasing an additional 1,106 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.6 %

Shares of NASDAQ:QCOM traded down $1.00 during mid-day trading on Monday, hitting $155.98. 1,849,278 shares of the company traded hands, compared to its average volume of 6,264,792. The stock has a market cap of $173.29 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The stock has a 50-day moving average price of $159.67 and a two-hundred day moving average price of $169.92.

QUALCOMM (NASDAQ:QCOM) last announced its 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 company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent research reports. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

About QUALCOMM

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.