QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Wedmont Private Capital

Wedmont Private Capital raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,827 shares of the wireless technology company’s stock after purchasing an additional 881 shares during the period. Wedmont Private Capital’s holdings in QUALCOMM were worth $1,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Brown Brothers Harriman & Co. grew its position in QUALCOMM by 9.1% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 26,153 shares of the wireless technology company’s stock valued at $5,209,000 after acquiring an additional 2,190 shares in the last quarter. Valley Forge Investment Consultants Inc. ADV purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $261,000. Capital Wealth Planning LLC acquired a new stake in QUALCOMM during the 2nd quarter worth approximately $301,000. Massachusetts Financial Services Co. MA boosted its position in QUALCOMM by 1,778.7% in the 2nd 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 buying an additional 3,047,947 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after acquiring an additional 173,673 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.1 %

QUALCOMM stock opened at $157.13 on Tuesday. The stock has a 50 day moving average of $159.51 and a two-hundred day moving average of $169.65. QUALCOMM Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63. The stock has a market capitalization of $174.57 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s 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 transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

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.