Quantum Financial Advisors LLC Sells 70 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Quantum Financial Advisors LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,776 shares of the wireless technology company’s stock after selling 70 shares during the period. Quantum Financial Advisors LLC’s holdings in QUALCOMM were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. Nordea Investment Management AB boosted its holdings in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after acquiring an additional 523,244 shares in the last quarter. Wedge Capital Management L L P NC raised its position in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares during the last quarter. Icon Wealth Advisors LLC grew its holdings in shares of QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after purchasing an additional 18,315 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after buying an additional 50,438 shares during the period. Finally, Aljian Capital Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at approximately $1,820,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QCOM. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given 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.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $157.13 on Tuesday. The company has a market cap of $174.57 billion, a P/E ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25. The company has a fifty day simple moving average of $159.51 and a 200 day simple moving average of $169.65. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63.

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, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

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.