Wealth Alliance Has $769,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Alliance lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,318 shares of the wireless technology company’s stock after selling 139 shares during the quarter. Wealth Alliance’s holdings in QUALCOMM were worth $769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. Glass Jacobson Investment Advisors llc raised its holdings in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after buying an additional 68 shares in the last quarter. Chilton Capital Management LLC grew its position in QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the last quarter. Means Investment CO. Inc. grew its position in QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares during the last quarter. Marino Stram & Associates LLC grew its position in QUALCOMM by 2.5% during the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 73 shares during the last quarter. Finally, Certified Advisory Corp grew its position in QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QCOM. Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Mizuho raised their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday. They set an “in-line” rating and a $177.00 price objective for the company. Finally, Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.90.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock valued at $7,184,678 in the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Down 0.7 %

Shares of QCOM stock opened at $168.58 on Wednesday. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The stock’s fifty day moving average price is $164.11 and its 200 day moving average price is $142.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market cap of $188.14 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, research analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

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.