KMG Fiduciary Partners LLC Purchases 3,989 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

KMG Fiduciary Partners LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,295 shares of the wireless technology company’s stock after purchasing an additional 3,989 shares during the quarter. QUALCOMM makes up 1.2% of KMG Fiduciary Partners LLC’s holdings, making the stock its 15th largest position. KMG Fiduciary Partners LLC’s holdings in QUALCOMM were worth $14,332,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QCOM shares. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Evercore ISI increased their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One equities 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’s stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $207.11.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $161.43 on Friday. QUALCOMM Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $159.21 and its 200 day simple moving average is $169.34. The firm has a market capitalization of $179.35 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS 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.