626 Financial LLC Has $2.62 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

626 Financial LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,417 shares of the wireless technology company’s stock after selling 189 shares during the quarter. QUALCOMM makes up approximately 1.5% of 626 Financial LLC’s investment portfolio, making the stock its 16th largest position. 626 Financial LLC’s holdings in QUALCOMM were worth $2,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter valued at $27,000. HWG Holdings LP acquired a new position in QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC raised its holdings in 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 shares of QUALCOMM during the first quarter worth approximately $37,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 2.2 %

Shares of QUALCOMM stock opened at $174.09 on Wednesday. The stock’s 50-day moving average is $168.55 and its 200 day moving average is $182.28. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The firm has a market cap of $194.28 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during 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%. Equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on QCOM. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Barclays boosted their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Cantor Fitzgerald dropped their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $209.38.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction on 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 sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was 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 over the last ninety days. 0.08% of the stock is owned by company insiders.

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.