Allworth Financial LP Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Allworth Financial LP lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 6.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,793 shares of the wireless technology company’s stock after selling 1,605 shares during the period. Allworth Financial LP’s holdings in QUALCOMM were worth $2,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rheos Capital Works Inc. grew its holdings in shares of QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after buying an additional 42,500 shares during the last quarter. Stock Yards Bank & Trust Co. grew its holdings in shares of QUALCOMM by 1.6% during the second quarter. Stock Yards Bank & Trust Co. now owns 39,999 shares of the wireless technology company’s stock worth $4,761,000 after buying an additional 638 shares during the last quarter. DCF Advisers LLC grew its holdings in shares of QUALCOMM by 40.0% during the second quarter. DCF Advisers LLC now owns 7,000 shares of the wireless technology company’s stock worth $833,000 after buying an additional 2,000 shares during the last quarter. HF Advisory Group LLC purchased a new position in shares of QUALCOMM during the third quarter worth about $629,000. Finally, DnB Asset Management AS grew its holdings in shares of QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after buying an additional 215,522 shares during the last quarter. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 3,098 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $130.00, for a total value of $402,740.00. Following the transaction, the chief accounting officer now directly owns 247 shares in the company, valued at approximately $32,110. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,098 shares of company stock valued at $1,866,840. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QCOM. Evercore ISI lowered their price objective on QUALCOMM from $140.00 to $135.00 in a report on Thursday, October 5th. Susquehanna lifted their price objective on QUALCOMM from $130.00 to $140.00 and gave the company a “positive” rating in a report on Thursday, November 2nd. KeyCorp lifted their price objective on QUALCOMM from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays lifted their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Citigroup raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $141.65.

View Our Latest Report on QUALCOMM

QUALCOMM Price Performance

QCOM stock opened at $139.32 on Thursday. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $146.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.67 and a current ratio of 2.33. The stock’s 50 day moving average price is $135.32 and its 200 day moving average price is $121.90. The firm has a market cap of $155.06 billion, a P/E ratio of 21.70, a PEG ratio of 1.56 and a beta of 1.32.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.14. QUALCOMM had a return on equity of 37.85% and a net margin of 20.19%. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.25 earnings per share for the current fiscal year.

QUALCOMM Company Profile

(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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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