Carnegie Capital Asset Management LLC Sells 463 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Carnegie Capital Asset Management LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 163,489 shares of the wireless technology company’s stock after selling 463 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in QUALCOMM were worth $23,645,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc grew its stake in QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Means Investment CO. Inc. lifted its holdings in QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after buying an additional 71 shares during the last quarter. Certified Advisory Corp lifted its holdings in QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after buying an additional 79 shares during the last quarter. Finally, Source Financial Advisors LLC lifted its holdings in QUALCOMM by 2.2% during the 4th quarter. Source Financial Advisors LLC now owns 3,903 shares of the wireless technology company’s stock worth $564,000 after buying an additional 85 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. In the last three months, insiders sold 44,360 shares of company stock valued at $7,184,678. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday. Cantor Fitzgerald lifted their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays upped their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.90.

QUALCOMM Stock Performance

QUALCOMM stock traded down $3.84 during mid-day trading on Friday, reaching $171.29. 8,216,680 shares of the company were exchanged, compared to its average volume of 6,572,647. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm’s 50-day simple moving average is $163.10 and its two-hundred day simple moving average is $141.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market cap of $191.16 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal 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.