Wesbanco Bank Inc. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wesbanco Bank Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the third quarter, Holdings Channel.com reports. The fund owned 13,590 shares of the wireless technology company’s stock after purchasing an additional 88 shares during the quarter. Wesbanco Bank Inc.’s holdings in QUALCOMM were worth $2,311,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of QCOM. Matrix Capital Management Company LP bought a new position in QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA raised its holdings in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after acquiring an additional 3,047,947 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in QUALCOMM in the first quarter worth $238,770,000. Finally, Maj Invest Holding A S bought a new stake in QUALCOMM in the third quarter valued at $229,078,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

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

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Rosenblatt Securities upped their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.38.

QUALCOMM Stock Performance

QCOM stock opened at $174.09 on Wednesday. The company has a market cap of $194.28 billion, a P/E ratio of 23.40, a price-to-earnings-growth 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 1 year low of $104.33 and a 1 year high of $230.63. The stock’s fifty day moving average price is $168.55 and its 200-day moving average price is $182.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current 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.