QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Abound Wealth Management

Abound Wealth Management cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 30.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 322 shares of the wireless technology company’s stock after selling 142 shares during the quarter. Abound Wealth Management’s holdings in QUALCOMM were worth $49,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter valued at $30,000. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter worth about $26,000. Planning Capital Management Corp lifted its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Hershey Financial Advisers LLC acquired a new stake in QUALCOMM during the second quarter valued at $42,000. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter valued at $36,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Evercore ISI raised their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $207.11.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was 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 in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 0.1 %

QCOM stock traded up $0.17 during mid-day trading on Monday, hitting $157.15. 3,439,497 shares of the company were exchanged, compared to its average volume of 6,486,267. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The firm has a market capitalization of $174.59 billion, a P/E ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25. The business has a fifty day simple moving average of $159.67 and a 200-day simple moving average of $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 posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal 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.