Asset Dedication LLC Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Asset Dedication LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,027 shares of the wireless technology company’s stock after selling 3,999 shares during the quarter. Asset Dedication LLC’s holdings in QUALCOMM were worth $2,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the first quarter valued at about $27,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter valued at $30,000. Financial Connections Group Inc. purchased a new stake in QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the first quarter valued at $37,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $174.09 on Wednesday. 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 company has a market capitalization of $194.28 billion, a PE ratio of 23.40, a P/E/G ratio of 1.71 and a beta of 1.28. The business’s fifty day moving average price is $168.55 and its 200 day moving average price is $182.28. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, July 17th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.38.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s 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 completion of the transaction, the chief technology officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated 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 owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 0.08% of the stock is owned by 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.