ORG Wealth Partners LLC Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

ORG Wealth Partners LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,148 shares of the wireless technology company’s stock after selling 212 shares during the quarter. ORG Wealth Partners LLC’s holdings in QUALCOMM were worth $637,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ridgewood Investments LLC increased its position in shares of QUALCOMM by 43.8% in the fourth quarter. Ridgewood Investments LLC now owns 12,858 shares of the wireless technology company’s stock worth $1,975,000 after acquiring an additional 3,917 shares in the last quarter. Farmers Trust Co. raised its position in QUALCOMM by 6.8% in the fourth quarter. Farmers Trust Co. now owns 3,136 shares of the wireless technology company’s stock valued at $482,000 after purchasing an additional 201 shares during the period. Innova Wealth Partners lifted its stake in shares of QUALCOMM by 6.5% during the fourth quarter. Innova Wealth Partners now owns 1,461 shares of the wireless technology company’s stock worth $225,000 after purchasing an additional 89 shares in the last quarter. Range Financial Group LLC boosted its holdings in QUALCOMM by 306.5% in the 4th quarter. Range Financial Group LLC now owns 5,727 shares of the wireless technology company’s stock worth $880,000 after acquiring an additional 4,318 shares during the period. Finally, One Wealth Capital Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $455,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $3.21 on Friday, reaching $155.87. The company’s stock had a trading volume of 2,152,933 shares, compared to its average volume of 6,320,445. The firm’s 50 day moving average is $159.84 and its two-hundred day moving average is $170.64. The stock has a market cap of $173.17 billion, a PE ratio of 17.34, a PEG ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a twelve month low of $136.03 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was 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 directly owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was 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 in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

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.