Woodstock Corp Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Woodstock Corp cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 49,130 shares of the wireless technology company’s stock after selling 1,693 shares during the quarter. Woodstock Corp’s holdings in QUALCOMM were worth $7,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $26,000. HWG Holdings LP acquired a new stake in QUALCOMM during the second quarter worth $30,000. Planning Capital Management Corp raised its position 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 acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. Evercore ISI boosted their price objective 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. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Price Performance

Shares of QCOM opened at $161.43 on Friday. The firm has a market capitalization of $179.35 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 2.63 and a beta of 1.25. The firm’s fifty day simple moving average is $159.21 and its 200-day simple moving average is $169.34. 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 Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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 company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Equities analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on 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 sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is owned by corporate insiders.

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.