Quotient Wealth Partners LLC Sells 230 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Quotient Wealth Partners LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,928 shares of the wireless technology company’s stock after selling 230 shares during the quarter. Quotient Wealth Partners LLC’s holdings in QUALCOMM were worth $668,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in QCOM. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. HWG Holdings LP bought a new position in QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC raised its position in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new position in QUALCOMM during the 1st quarter worth approximately $37,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on QCOM shares. Deutsche Bank Aktiengesellschaft raised their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Barclays raised their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird increased their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $209.38.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 over the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.0 %

QCOM opened at $168.52 on Friday. The stock’s fifty day simple moving average is $167.54 and its 200 day simple moving average is $182.06. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market cap of $187.73 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

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.