Essex Savings Bank Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Essex Savings Bank decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,678 shares of the wireless technology company’s stock after selling 66 shares during the period. Essex Savings Bank’s holdings in QUALCOMM were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Stolper Co raised its stake in shares of QUALCOMM by 1.5% during the 4th quarter. Stolper Co now owns 33,674 shares of the wireless technology company’s stock valued at $5,173,000 after purchasing an additional 488 shares during the period. BluePath Capital Management LLC grew its stake in QUALCOMM by 32.2% during the fourth quarter. BluePath Capital Management LLC now owns 6,152 shares of the wireless technology company’s stock valued at $967,000 after acquiring an additional 1,497 shares in the last quarter. Sawyer & Company Inc increased its holdings in QUALCOMM by 2.3% during the 4th quarter. Sawyer & Company Inc now owns 14,109 shares of the wireless technology company’s stock worth $2,167,000 after acquiring an additional 315 shares during the period. Pinnacle Bancorp Inc. lifted its stake in QUALCOMM by 4.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 3,036 shares of the wireless technology company’s stock worth $466,000 after purchasing an additional 125 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp boosted its holdings in QUALCOMM by 35.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 45,640 shares of the wireless technology company’s stock valued at $7,011,000 after purchasing an additional 12,055 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QCOM. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Up 3.1 %

QUALCOMM stock opened at $164.41 on Thursday. The firm has a market cap of $182.66 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.63 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. The stock has a fifty day simple moving average of $159.38 and a two-hundred day simple moving average of $169.37. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63.

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

Insiders Place Their Bets

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

QUALCOMM 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.