CCM Investment Advisers LLC Sells 3,334 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CCM Investment Advisers LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,225 shares of the wireless technology company’s stock after selling 3,334 shares during the period. CCM Investment Advisers LLC’s holdings in QUALCOMM were worth $11,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at $30,000. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth about $26,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in QUALCOMM during the second quarter valued at approximately $42,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at $36,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $2.96 during trading hours on Friday, hitting $156.12. The company’s stock had a trading volume of 2,222,164 shares, compared to its average volume of 6,337,532. 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 company has a market cap of $173.45 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company’s 50 day simple moving average is $159.84 and its two-hundred day simple moving average is $170.64. QUALCOMM Incorporated has a 12 month low of $136.03 and a 12 month high of $230.63.

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

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on QCOM shares. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

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.