Quantum Financial Advisors LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Cerbat Gem

Quantum Financial Advisors LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,776 shares of the wireless technology company’s stock after selling 70 shares during the period. Quantum Financial Advisors LLC’s holdings in QUALCOMM were worth $426,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its stake in QUALCOMM by 39.7% in the fourth 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 raised its holdings in shares of QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares during the period. Icon Wealth Advisors LLC lifted 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 grew its holdings in QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after purchasing an additional 50,438 shares during the period. Finally, Aljian Capital Management LLC purchased a new stake in QUALCOMM in the third quarter worth $1,820,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QCOM. UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein boosted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Susquehanna reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

View Our Latest Stock Analysis on QCOM

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’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 trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.1 %

Shares of QCOM opened at $157.13 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63. The firm has a 50 day moving average price of $159.51 and a 200-day moving average price of $169.65. The firm has a market cap of $174.57 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted 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 analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

About QUALCOMM

(Free Report)

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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