QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 90.2% during the third quarter, HoldingsChannel reports. The firm owned 5,154 shares of the wireless technology company’s stock after selling 47,406 shares during the period. Confluence Wealth Services Inc.’s holdings in QUALCOMM were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rheos Capital Works Inc. lifted its stake 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 purchasing an additional 42,500 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake 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 purchasing an additional 638 shares in the last quarter. DCF Advisers LLC increased its position 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 acquiring an additional 2,000 shares during the last quarter. HF Advisory Group LLC purchased a new stake in shares of QUALCOMM during the third quarter worth about $629,000. Finally, DnB Asset Management AS increased its position 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 acquiring an additional 215,522 shares during the last quarter. Institutional investors and hedge funds own 71.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Citigroup raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, January 12th. KeyCorp lifted their target price on QUALCOMM from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Friday, November 3rd. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Finally, Evercore ISI lowered their price objective on QUALCOMM from $140.00 to $135.00 in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.65.

Check Out Our Latest Research Report on QCOM

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $139.32 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.67 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $135.32 and a 200-day simple moving average of $121.90. The company has a market cap of $155.06 billion, a PE ratio of 21.70, a P/E/G ratio of 1.56 and a beta of 1.32. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $146.89.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.14. The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. QUALCOMM had a return on equity of 37.85% and a net margin of 20.19%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.25 EPS for the current year.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 3,098 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $130.00, for a total transaction of $402,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 247 shares in the company, valued at $32,110. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other QUALCOMM news, CAO Neil Martin sold 3,098 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 247 shares in the company, valued at $32,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $120.11, for a total value of $1,201,100.00. Following the completion of the sale, the chief technology officer now owns 243,795 shares of the company’s stock, valued at $29,282,217.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,098 shares of company stock worth $1,866,840. Company insiders own 0.07% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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