Fifth Third Wealth Advisors LLC Acquires 1,756 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fifth Third Wealth Advisors LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.6% in the fourth quarter, Holdings Channel reports. The firm owned 16,948 shares of the wireless technology company’s stock after buying an additional 1,756 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,603,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM during the third quarter worth about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. In the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $159.53 on Wednesday. QUALCOMM Incorporated has a 1-year low of $137.35 and a 1-year high of $230.63. The company has a market cap of $177.24 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $159.38 and a 200-day moving average of $169.37.

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

Analyst Ratings Changes

QCOM has been the subject of several research reports. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Susquehanna decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Company 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.