Pensionfund Sabic cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the wireless technology company’s stock after selling 3,300 shares during the period. Pensionfund Sabic’s holdings in QUALCOMM were worth $2,041,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the second quarter valued at $30,000. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth about $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC boosted its stake in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its holdings in QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after acquiring an additional 60 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on QCOM. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research note on Wednesday, July 17th. Cantor Fitzgerald lowered their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.38.
QUALCOMM Stock Up 2.3 %
NASDAQ:QCOM opened at $170.22 on Thursday. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The firm has a market capitalization of $189.97 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $167.54 and its two-hundred day moving average price is $182.06.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. Equities research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.
Insider Activity at QUALCOMM
In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock worth $3,679,407. Insiders own 0.08% of the company’s stock.
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.
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