Allen Mooney & Barnes Investment Advisors LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Allen Mooney & Barnes Investment Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,916 shares of the wireless technology company’s stock after acquiring an additional 82 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in QUALCOMM were worth $294,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its stake in QUALCOMM by 11.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 16,948 shares of the wireless technology company’s stock valued at $2,603,000 after acquiring an additional 1,756 shares during the period. Community Trust & Investment Co. lifted its holdings in QUALCOMM by 4.2% during the fourth quarter. Community Trust & Investment Co. now owns 18,367 shares of the wireless technology company’s stock valued at $2,822,000 after purchasing an additional 745 shares in the last quarter. Crestmont Private Wealth LLC grew its position in shares of QUALCOMM by 14.0% in the fourth quarter. Crestmont Private Wealth LLC now owns 2,367 shares of the wireless technology company’s stock valued at $364,000 after purchasing an additional 291 shares during the period. Define Financial LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $242,000. Finally, Pines Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $1,392,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock opened at $159.53 on Wednesday. The business’s fifty day moving average price is $159.38 and its 200 day moving average price is $169.37. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The company has a market capitalization of $177.24 billion, a PE ratio of 17.75, a P/E/G ratio of 2.65 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.

QUALCOMM (NASDAQ:QCOM) last issued 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 for 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, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research reports. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction 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 directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.