Sovereign Financial Group Inc. Purchases 87 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sovereign Financial Group Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,144 shares of the wireless technology company’s stock after buying an additional 87 shares during the quarter. Sovereign Financial Group Inc.’s holdings in QUALCOMM were worth $637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its stake in QUALCOMM by 9.1% during the second quarter. Brown Brothers Harriman & Co. now owns 26,153 shares of the wireless technology company’s stock worth $5,209,000 after acquiring an additional 2,190 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $2,995,000. WealthPLAN Partners LLC grew its stake in shares of QUALCOMM by 21.4% in the 2nd quarter. WealthPLAN Partners LLC now owns 1,634 shares of the wireless technology company’s stock worth $325,000 after buying an additional 288 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new position in QUALCOMM during the 2nd quarter valued at approximately $548,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on QCOM. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Susquehanna decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Trading Up 1.5 %

QCOM opened at $159.53 on Wednesday. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. 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 stock has a 50-day moving average of $159.38 and a 200 day moving average of $169.37. The firm has a market cap of $177.24 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 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 firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’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 sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently 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.