Franklin Street Advisors Inc. NC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Franklin Street Advisors Inc. NC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,979 shares of the wireless technology company’s stock after selling 2,560 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in QUALCOMM were worth $10,443,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Paulson Wealth Management Inc. grew its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares during the period. Blossom Wealth Management lifted its holdings in QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after acquiring an additional 64 shares in the last quarter. Delta Financial Advisors LLC increased its holdings in shares of QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares in the last quarter. Muirfield Wealth Advisors LLC raised its position in shares of QUALCOMM by 3.1% during the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after purchasing an additional 66 shares during the period. Finally, Invst LLC lifted its holdings in shares of QUALCOMM by 2.9% during the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $3.21 during mid-day trading on Friday, reaching $155.87. 2,152,933 shares of the company were exchanged, compared to its average volume of 6,320,445. QUALCOMM Incorporated has a twelve month low of $136.03 and a twelve month high of $230.63. The stock has a market capitalization of $173.17 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.65 and a beta of 1.25. The company’s 50-day simple moving average is $159.84 and its 200-day simple moving average is $170.64. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley cut their price objective 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. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.11.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business’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 transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

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.