Westmount Partners LLC Purchases 1,450 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Westmount Partners LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,045 shares of the wireless technology company’s stock after acquiring an additional 1,450 shares during the quarter. Westmount Partners LLC’s holdings in QUALCOMM were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. HWG Holdings LP bought a new position in QUALCOMM during the 2nd quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter worth $26,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of QUALCOMM in the 2nd quarter worth $42,000. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on QCOM. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Evercore ISI boosted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $207.11.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.60 during mid-day trading on Monday, reaching $156.38. The company had a trading volume of 2,613,772 shares, compared to its average volume of 6,372,438. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $173.74 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.65 and a beta of 1.25. The stock’s 50-day simple moving average is $159.67 and its 200-day simple moving average is $169.92.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current 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.