Watts Gwilliam & Co. LLC Acquires Shares of 6,363 QUALCOMM Incorporated (NASDAQ:QCOM)

Watts Gwilliam & Co. LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,363 shares of the wireless technology company’s stock, valued at approximately $1,059,000.

Several other institutional investors also recently modified their holdings of QCOM. Contravisory Investment Management Inc. grew its holdings in QUALCOMM by 14,458.8% in the third quarter. Contravisory Investment Management Inc. now owns 2,475 shares of the wireless technology company’s stock worth $421,000 after purchasing an additional 2,458 shares during the period. B & T Capital Management DBA Alpha Capital Management grew its stake in shares of QUALCOMM by 2.9% in the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 25,799 shares of the wireless technology company’s stock worth $4,387,000 after buying an additional 720 shares during the last quarter. UMB Bank n.a. increased its position in QUALCOMM by 1.2% during the 3rd quarter. UMB Bank n.a. now owns 40,990 shares of the wireless technology company’s stock valued at $6,970,000 after buying an additional 476 shares in the last quarter. Cypress Wealth Services LLC purchased a new position in QUALCOMM during the third quarter valued at $203,000. Finally, Morton Capital Management LLC CA boosted its holdings in QUALCOMM by 8.5% in the third quarter. Morton Capital Management LLC CA now owns 2,058 shares of the wireless technology company’s stock worth $350,000 after acquiring an additional 161 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $168.52 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The business has a 50-day moving average price of $167.63 and a 200-day moving average price of $181.97. The firm has a market cap of $187.73 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Wells Fargo & Company increased their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, Tigress Financial upped their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $209.38.

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.