Moody National Bank Trust Division Sells 296 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Moody National Bank Trust Division cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,554 shares of the wireless technology company’s stock after selling 296 shares during the quarter. Moody National Bank Trust Division’s holdings in QUALCOMM were worth $2,697,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the third quarter worth $26,000. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter worth $30,000. Planning Capital Management Corp lifted its holdings in 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 acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM in the third quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM in the third quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 19,739 shares of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the subject of several research analyst reports. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $0.29 during mid-day trading on Monday, reaching $156.69. 2,848,911 shares of the company were exchanged, compared to its average volume of 6,404,113. QUALCOMM Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63. The stock has a market capitalization of $174.08 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.65 and a beta of 1.25. The company’s 50-day simple moving average is $159.67 and its 200-day simple moving average is $169.92. 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 issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during 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%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

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.