Gradient Capital Advisors LLC Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Gradient Capital Advisors LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,382 shares of the wireless technology company’s stock after selling 315 shares during the period. Gradient Capital Advisors LLC’s holdings in QUALCOMM were worth $1,288,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after buying an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, Bank of America cut their target price on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $186.00.

QUALCOMM Stock Up 0.6%

Shares of NASDAQ:QCOM opened at $153.46 on Friday. The stock has a market capitalization of $168.49 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $196.24. The company’s fifty day moving average is $153.76 and its two-hundred day moving average is $154.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

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

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated 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 quarter, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is owned by corporate 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.