QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Grove Bank & Trust

Grove Bank & Trust reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,691 shares of the wireless technology company’s stock after selling 263 shares during the period. Grove Bank & Trust’s holdings in QUALCOMM were worth $458,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Congress Asset Management Co. MA purchased a new position in shares of QUALCOMM in the fourth quarter valued at $222,000. ICA Group Wealth Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $115,000. Leo Wealth LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $382,000. Orrstown Financial Services Inc. boosted its stake in shares of QUALCOMM by 6.6% in the first quarter. Orrstown Financial Services Inc. now owns 2,654 shares of the wireless technology company’s stock valued at $449,000 after purchasing an additional 165 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in QUALCOMM by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 13,004 shares of the wireless technology company’s stock valued at $2,202,000 after acquiring an additional 95 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Tigress Financial increased their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.38.

QUALCOMM Stock Up 4.7 %

Shares of QUALCOMM stock opened at $178.04 on Tuesday. The firm has a market cap of $198.69 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a 50-day simple moving average of $168.25 and a 200-day simple moving average of $182.24.

QUALCOMM (NASDAQ:QCOM) last posted its 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 firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by insiders.

QUALCOMM Profile

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.