Range Financial Group LLC Buys 4,318 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Range Financial Group LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 306.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,727 shares of the wireless technology company’s stock after purchasing an additional 4,318 shares during the quarter. Range Financial Group LLC’s holdings in QUALCOMM were worth $880,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth $30,000. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth about $26,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of QUALCOMM in the 2nd quarter valued at about $42,000. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $36,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.67 on Tuesday, reaching $160.52. 7,661,705 shares of the company’s stock traded hands, compared to its average volume of 7,003,716. The stock’s 50 day simple moving average is $160.39 and its two-hundred day simple moving average is $171.17. The stock has a market cap of $178.34 billion, a PE ratio of 17.86, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $136.03 and a 52-week high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

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