QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Lessened by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,091 shares of the wireless technology company’s stock after selling 2,101 shares during the quarter. Park Avenue Securities LLC’s holdings in QUALCOMM were worth $4,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QCOM. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of QUALCOMM by 4.5% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,916 shares of the wireless technology company’s stock valued at $294,000 after purchasing an additional 82 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in QUALCOMM by 11.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 16,948 shares of the wireless technology company’s stock worth $2,603,000 after buying an additional 1,756 shares during the period. Community Trust & Investment Co. lifted its stake in QUALCOMM by 4.2% during the fourth quarter. Community Trust & Investment Co. now owns 18,367 shares of the wireless technology company’s stock valued at $2,822,000 after buying an additional 745 shares in the last quarter. Crestmont Private Wealth LLC boosted its holdings in shares of QUALCOMM by 14.0% in the fourth quarter. Crestmont Private Wealth LLC now owns 2,367 shares of the wireless technology company’s stock worth $364,000 after buying an additional 291 shares during the period. Finally, Define Financial LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth approximately $242,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QCOM shares. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Trading Down 1.8 %

Shares of QCOM stock opened at $161.43 on Friday. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The company has a market cap of $179.35 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $159.21 and its two-hundred day moving average is $169.34.

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

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

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.