QUALCOMM Incorporated (NASDAQ:QCOM) Position Raised by Highline Wealth Partners LLC

Highline Wealth Partners LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,146 shares of the wireless technology company’s stock after buying an additional 988 shares during the quarter. Highline Wealth Partners LLC’s holdings in QUALCOMM were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the 2nd quarter worth about $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at approximately $26,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in QUALCOMM during the second quarter valued at approximately $42,000. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $36,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QCOM. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction 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 sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 1.0 %

QCOM stock traded down $1.56 during trading on Friday, reaching $157.52. 2,708,179 shares of the company traded hands, compared to its average volume of 6,409,222. The business has a 50 day simple moving average of $159.84 and a 200 day simple moving average of $170.64. QUALCOMM Incorporated has a 12 month low of $136.03 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market capitalization of $175.00 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

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.