QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,948 shares of the wireless technology company’s stock after purchasing an additional 1,756 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter worth $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the second quarter valued at approximately $30,000. Planning Capital Management Corp increased its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM during the third quarter valued at about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $159.53 on Wednesday. The firm has a market capitalization of $177.24 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $159.38 and a 200 day simple moving average of $169.37. QUALCOMM Incorporated has a one year low of $137.35 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Insider Activity

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI lifted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong 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 $207.11.

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.