QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lessened by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,135 shares of the wireless technology company’s stock after selling 74 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in QUALCOMM were worth $3,554,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter worth $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the 2nd quarter worth about $30,000. Planning Capital Management Corp boosted 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 valued at $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM in the third quarter worth about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In related 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value 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. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. One 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM Stock Up 3.1 %

QCOM stock opened at $164.41 on Thursday. The company’s 50 day simple moving average is $159.38 and its 200-day simple moving average is $169.37. QUALCOMM Incorporated has a 52-week low of $137.35 and a 52-week 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 firm has a market capitalization of $182.66 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates 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 anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

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.