Ridgewood Investments LLC Purchases 3,917 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ridgewood Investments LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 43.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,858 shares of the wireless technology company’s stock after buying an additional 3,917 shares during the quarter. QUALCOMM comprises approximately 1.0% of Ridgewood Investments LLC’s investment portfolio, making the stock its 16th largest holding. Ridgewood Investments LLC’s holdings in QUALCOMM were worth $1,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Farmers Trust Co. increased its position in QUALCOMM by 6.8% in the 4th quarter. Farmers Trust Co. now owns 3,136 shares of the wireless technology company’s stock valued at $482,000 after buying an additional 201 shares in the last quarter. Innova Wealth Partners increased its position in QUALCOMM by 6.5% in the 4th quarter. Innova Wealth Partners now owns 1,461 shares of the wireless technology company’s stock valued at $225,000 after buying an additional 89 shares in the last quarter. Range Financial Group LLC increased its position in QUALCOMM by 306.5% in the 4th quarter. Range Financial Group LLC now owns 5,727 shares of the wireless technology company’s stock valued at $880,000 after buying an additional 4,318 shares in the last quarter. One Wealth Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $455,000. Finally, Regent Peak Wealth Advisors LLC increased its position in QUALCOMM by 3.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,058 shares of the wireless technology company’s stock valued at $316,000 after buying an additional 68 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the 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 completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on QCOM. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Price Performance

Shares of QCOM traded down $3.21 during midday trading on Friday, reaching $155.87. The stock had a trading volume of 2,152,933 shares, compared to its average volume of 6,320,445. The company’s 50-day moving average is $159.84 and its 200 day moving average is $170.64. QUALCOMM Incorporated has a 12-month low of $136.03 and a 12-month 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 company has a market capitalization of $173.17 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

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

QUALCOMM Company 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.