Sovereign Financial Group Inc. Purchases 87 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sovereign Financial Group Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,144 shares of the wireless technology company’s stock after acquiring an additional 87 shares during the period. Sovereign Financial Group Inc.’s holdings in QUALCOMM were worth $637,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter worth approximately $30,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM during the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of QUALCOMM during the third quarter worth $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI boosted their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley cut their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $159.53 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63. The firm has a market cap of $177.24 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The business has a 50 day moving average price of $159.38 and a 200-day moving average price of $169.37.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $9.90 billion. Equities research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

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.