Beech Hill Advisors Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Beech Hill Advisors Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,830 shares of the wireless technology company’s stock after acquiring an additional 582 shares during the period. QUALCOMM comprises about 1.9% of Beech Hill Advisors Inc.’s holdings, making the stock its 13th largest holding. Beech Hill Advisors Inc.’s holdings in QUALCOMM were worth $5,197,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in QUALCOMM in the 2nd quarter worth about $2,995,000. WealthPLAN Partners LLC boosted its holdings in QUALCOMM by 21.4% in the second quarter. WealthPLAN Partners LLC now owns 1,634 shares of the wireless technology company’s stock worth $325,000 after purchasing an additional 288 shares during the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of QUALCOMM by 22.3% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 4,800 shares of the wireless technology company’s stock worth $956,000 after buying an additional 875 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in shares of QUALCOMM by 3.9% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 37,063 shares of the wireless technology company’s stock valued at $7,382,000 after purchasing an additional 1,384 shares during the period. Finally, Andar Capital Management HK Ltd purchased a new position in shares of QUALCOMM in the second quarter worth approximately $3,944,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on QCOM shares. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Trading Down 1.0 %

Shares of QCOM traded down $1.57 during midday trading on Thursday, hitting $162.84. The stock had a trading volume of 580,921 shares, compared to its average volume of 6,403,357. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a market cap of $180.92 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63. The stock’s 50 day moving average is $159.38 and its 200 day moving average is $169.37.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Company 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.