QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,105,552 shares of the wireless technology company’s stock after selling 27,696 shares during the period. QUALCOMM accounts for approximately 2.4% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 4th largest holding. Douglas Lane & Associates LLC’s holdings in QUALCOMM were worth $169,835,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lantz Financial LLC acquired a new position in shares of QUALCOMM during the second quarter valued at $234,000. HCR Wealth Advisors boosted its holdings in shares of QUALCOMM by 10.0% in the second quarter. HCR Wealth Advisors now owns 1,385 shares of the wireless technology company’s stock valued at $276,000 after acquiring an additional 126 shares in the last quarter. LGT Fund Management Co Ltd. increased its stake in shares of QUALCOMM by 552.1% during the second quarter. LGT Fund Management Co Ltd. now owns 9,130 shares of the wireless technology company’s stock valued at $1,819,000 after acquiring an additional 7,730 shares during the period. Royal London Asset Management Ltd. lifted its position in QUALCOMM by 3.9% in the second quarter. Royal London Asset Management Ltd. now owns 472,704 shares of the wireless technology company’s stock worth $94,153,000 after purchasing an additional 17,893 shares during the period. Finally, Provident Investment Management Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth $203,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on QCOM. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Stock Down 1.2 %

NASDAQ:QCOM traded down $1.93 on Wednesday, hitting $158.59. 2,857,710 shares of the company’s stock were exchanged, compared to its average volume of 6,188,529. The company has a market cap of $176.19 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The firm has a 50-day moving average price of $160.08 and a 200-day moving average price of $170.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 52 week low of $136.03 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business 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%. As a group, analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 10,373 shares of the business’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 completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was 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 $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. 0.08% of the stock is currently owned by 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.