QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Increased by Accurate Wealth Management LLC

Accurate Wealth Management LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,881 shares of the wireless technology company’s stock after acquiring an additional 1,872 shares during the period. Accurate Wealth Management LLC’s holdings in QUALCOMM were worth $1,551,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sovereign Financial Group Inc. lifted its position in QUALCOMM by 2.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,144 shares of the wireless technology company’s stock worth $637,000 after purchasing an additional 87 shares during the period. Wallace Advisory Group LLC raised its stake in shares of QUALCOMM by 22.0% in the 4th quarter. Wallace Advisory Group LLC now owns 2,226 shares of the wireless technology company’s stock worth $379,000 after buying an additional 401 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 6.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 25,752 shares of the wireless technology company’s stock valued at $3,956,000 after buying an additional 1,589 shares during the period. Greenfield Savings Bank bought a new position in QUALCOMM during the fourth quarter valued at about $223,000. Finally, Grandview Asset Management LLC bought a new position in QUALCOMM during the fourth quarter valued at about $385,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity 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 value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research analyst reports. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, UBS Group raised their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $159.53 on Wednesday. The firm has a market cap of $177.24 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $159.38 and a 200 day simple moving average of $169.37.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company 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, sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

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.