Wolff Wiese Magana LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wolff Wiese Magana LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,744 shares of the wireless technology company’s stock after buying an additional 369 shares during the period. QUALCOMM accounts for about 1.7% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 17th biggest holding. Wolff Wiese Magana LLC’s holdings in QUALCOMM were worth $2,572,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Hershey Financial Advisers LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $42,000. Finally, Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

NASDAQ QCOM opened at $163.32 on Wednesday. QUALCOMM Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market capitalization of $181.45 billion, a PE ratio of 18.17, a P/E/G ratio of 2.65 and a beta of 1.25. The stock has a 50-day simple moving average of $159.38 and a 200 day simple moving average of $169.37.

QUALCOMM (NASDAQ:QCOM) last posted 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. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on QCOM shares. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. UBS Group lifted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued 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.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.