McGlone Suttner Wealth Management Inc. Purchases 1,473 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

McGlone Suttner Wealth Management Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 57.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,030 shares of the wireless technology company’s stock after purchasing an additional 1,473 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in QUALCOMM were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Czech National Bank increased its position in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after acquiring an additional 13,888 shares during the last quarter. Legal & General Group Plc increased its position in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. City Holding Co. grew its holdings in QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after purchasing an additional 199 shares during the period. Heritage Wealth Management Inc. bought a new position in QUALCOMM during the second quarter valued at $1,539,000. Finally, Federated Hermes Inc. grew its holdings in QUALCOMM by 173.3% during the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after purchasing an additional 534,176 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.9 %

Shares of QCOM stock traded up $1.46 during midday trading on Friday, reaching $169.98. 3,801,395 shares of the stock were exchanged, compared to its average volume of 9,064,405. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company’s 50 day moving average is $167.85 and its two-hundred day moving average is $182.09. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market cap of $189.70 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

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

Insider Activity

In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM 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 value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $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 available at this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock valued at $3,679,407 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.38.

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.