Exchange Traded Concepts LLC Acquires 97,830 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Exchange Traded Concepts LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 51.7% in the third quarter, HoldingsChannel.com reports. The firm owned 287,102 shares of the wireless technology company’s stock after buying an additional 97,830 shares during the period. QUALCOMM comprises 1.1% of Exchange Traded Concepts LLC’s holdings, making the stock its 11th largest position. Exchange Traded Concepts LLC’s holdings in QUALCOMM were worth $48,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Voisard Asset Management Group Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $58,000. Able Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $85,000. Neo Ivy Capital Management purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $40,000. Centaurus Financial Inc. raised its holdings in shares of QUALCOMM by 5.1% in the fourth quarter. Centaurus Financial Inc. now owns 5,565 shares of the wireless technology company’s stock valued at $805,000 after purchasing an additional 271 shares during the last quarter. Finally, Syon Capital LLC raised its holdings in shares of QUALCOMM by 167.7% in the fourth quarter. Syon Capital LLC now owns 4,890 shares of the wireless technology company’s stock valued at $707,000 after purchasing an additional 3,063 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of QUALCOMM stock opened at $169.98 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market capitalization of $189.70 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 1.71 and a beta of 1.28. The company’s 50 day moving average price is $167.85 and its 200-day moving average price is $182.09.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QCOM. Tigress Financial increased their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler restated an “overweight” rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.38.

Insider Activity at QUALCOMM

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

QUALCOMM 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.