Contravisory Investment Management Inc. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,399 shares of the wireless technology company’s stock after selling 123 shares during the quarter. Contravisory Investment Management Inc.’s holdings in QUALCOMM were worth $518,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. increased its stake in QUALCOMM by 6.5% during the third quarter. Fairfield Bush & CO. now owns 26,257 shares of the wireless technology company’s stock valued at $3,090,000 after acquiring an additional 1,608 shares during the period. MML Investors Services LLC raised its position in QUALCOMM by 1.8% in the 3rd quarter. MML Investors Services LLC now owns 109,374 shares of the wireless technology company’s stock valued at $12,871,000 after purchasing an additional 1,981 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in QUALCOMM by 85.8% in the third quarter. KCM Investment Advisors LLC now owns 33,801 shares of the wireless technology company’s stock worth $3,978,000 after purchasing an additional 15,606 shares in the last quarter. Huntington National Bank grew its holdings in shares of QUALCOMM by 9.2% during the fourth quarter. Huntington National Bank now owns 61,957 shares of the wireless technology company’s stock worth $9,439,000 after purchasing an additional 5,230 shares during the last quarter. Finally, Glassman Wealth Services increased its stake in shares of QUALCOMM by 8.3% in the third quarter. Glassman Wealth Services now owns 1,877 shares of the wireless technology company’s stock valued at $221,000 after buying an additional 144 shares in the last quarter. 74.79% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on QCOM shares. KeyCorp raised their target price on QUALCOMM from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, January 6th. JPMorgan Chase & Co. set a $160.00 target price on QUALCOMM and gave the company a “buy” rating in a research note on Thursday, November 5th. Robert W. Baird started coverage on QUALCOMM in a research note on Tuesday, December 22nd. They issued an “outperform” rating and a $200.00 target price for the company. Citigroup raised their target price on QUALCOMM from $108.00 to $132.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Finally, Mizuho raised their target price on QUALCOMM from $154.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, December 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $146.85.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.28. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the business posted $0.78 EPS. QUALCOMM’s revenue for the quarter was up 35.3% on a year-over-year basis. On average, analysts predict that QUALCOMM Incorporated will post 3.2 earnings per share for the current fiscal year.
In other QUALCOMM news, CAO Erin L. Polek sold 3,455 shares of the business’s stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $142.48, for a total value of $492,268.40. Following the sale, the chief accounting officer now owns 2,738 shares in the company, valued at approximately $390,110.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Cristiano R. Amon sold 19,606 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $143.65, for a total value of $2,816,401.90. Following the completion of the sale, the president now owns 67,794 shares in the company, valued at approximately $9,738,608.10. The disclosure for this sale can be found here. Insiders have sold a total of 136,909 shares of company stock worth $20,502,275 in the last quarter. 0.12% of the stock is currently owned by company insiders.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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