QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Lakeside Advisors INC.

Lakeside Advisors INC. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,298 shares of the wireless technology company’s stock after selling 99 shares during the period. Lakeside Advisors INC.’s holdings in QUALCOMM were worth $507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cornerstone Planning Group LLC grew its position in shares of QUALCOMM by 34.1% in the first quarter. Cornerstone Planning Group LLC now owns 672 shares of the wireless technology company’s stock valued at $94,000 after purchasing an additional 171 shares during the period. Aspen Wealth Strategies LLC grew its position in QUALCOMM by 16.4% during the first quarter. Aspen Wealth Strategies LLC now owns 2,038 shares of the wireless technology company’s stock valued at $313,000 after acquiring an additional 287 shares during the period. Dogwood Wealth Management LLC boosted its position in shares of QUALCOMM by 10.7% in the first quarter. Dogwood Wealth Management LLC now owns 4,578 shares of the wireless technology company’s stock worth $703,000 after buying an additional 443 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of QUALCOMM by 4.2% in the first quarter. Linden Thomas Advisory Services LLC now owns 16,465 shares of the wireless technology company’s stock worth $2,529,000 after buying an additional 666 shares during the period. Finally, Greenleaf Trust boosted its position in shares of QUALCOMM by 2.7% in the first quarter. Greenleaf Trust now owns 37,262 shares of the wireless technology company’s stock worth $5,724,000 after buying an additional 976 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9%

QCOM opened at $159.45 on Wednesday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market cap of $175.08 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.04 and a beta of 1.26. The stock’s 50 day moving average price is $151.78 and its 200 day moving average price is $155.04.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period last year, the firm earned $2.44 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QCOM shares. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Finally, Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $188.00.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by company insiders.

QUALCOMM Company 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.