Comprehensive Financial Consultants Institutional Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,584 shares of the wireless technology company’s stock after acquiring an additional 132 shares during the quarter. Comprehensive Financial Consultants Institutional Inc.’s holdings in QUALCOMM were worth $1,208,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Atlantic Edge Private Wealth Management LLC grew its holdings in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares during the period. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. Chung Wu Investment Group LLC bought a new position in QUALCOMM during the second quarter worth about $32,000. Finally, Atticus Wealth Management LLC grew its holdings in QUALCOMM by 21,200.0% during the second quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 212 shares during the period. Institutional investors own 74.35% of the company’s stock.
QUALCOMM Price Performance
QUALCOMM stock opened at $169.18 on Monday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company’s 50 day moving average price is $159.51 and its two-hundred day moving average price is $153.22. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $182.55 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.47 and a beta of 1.23.
Analyst Ratings Changes
A number of brokerages have recently issued reports on QCOM. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the stock an “outperform” rating in a report on Monday, July 28th. Arete Research set a $200.00 price objective on QUALCOMM in a report on Tuesday, August 26th. Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Mizuho reduced their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.82.
Check Out Our Latest Stock Analysis on QCOM
Insider Activity
In other QUALCOMM news, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $161.42, for a total transaction of $44,067.66. Following the transaction, the chief accounting officer owned 404 shares of the company’s stock, valued at $65,213.68. This trade represents a 40.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 150,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the completion of the sale, the chief executive officer directly owned 149,304 shares in the company, valued at $24,718,770.24. This trade represents a 50.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,767 shares of company stock worth $26,322,745. Corporate insiders own 0.08% of the company’s stock.
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.
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