Tallon Kerry Patrick Invests $207,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Tallon Kerry Patrick purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,350 shares of the wireless technology company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter valued at approximately $30,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new stake in QUALCOMM in the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the third quarter valued at approximately $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 1.8 %

NASDAQ QCOM opened at $161.43 on Friday. The company’s fifty day simple moving average is $159.21 and its 200-day simple moving average is $169.34. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week 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 stock has a market cap of $179.35 billion, a P/E ratio of 17.96, a PEG ratio of 2.63 and a beta of 1.25.

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

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on QCOM. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Evercore ISI boosted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

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.