QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,892 shares of the wireless technology company’s stock after selling 818 shares during the period. Baker Tilly Wealth Management LLC’s holdings in QUALCOMM were worth $905,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after acquiring an additional 523,244 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Icon Wealth Advisors LLC increased its stake in QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after purchasing an additional 18,315 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of QUALCOMM by 39.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after buying an additional 50,438 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $1,820,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, 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 value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were 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 owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

QCOM stock traded down $1.56 during midday trading on Friday, hitting $157.52. 1,478,214 shares of the stock were exchanged, compared to its average volume of 6,192,594. The stock’s 50-day moving average price is $159.84 and its 200-day moving average price is $170.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market cap of $175.00 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $136.03 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during 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%. Research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein increased 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

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.