CCM Investment Advisers LLC Buys 29,677 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CCM Investment Advisers LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 60.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,559 shares of the wireless technology company’s stock after acquiring an additional 29,677 shares during the period. CCM Investment Advisers LLC’s holdings in QUALCOMM were worth $13,359,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in QUALCOMM during the second quarter valued at about $30,000. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC grew its stake in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 1.0 %

Shares of NASDAQ QCOM opened at $168.52 on Friday. The stock has a market capitalization of $187.73 billion, a P/E ratio of 21.83, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The firm’s 50 day simple moving average is $167.63 and its two-hundred day simple moving average is $181.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on QCOM shares. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, July 17th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Citigroup upped their price target on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Tigress Financial raised their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.38.

About QUALCOMM

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.