Baker Tilly Wealth Management LLC Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Baker Tilly Wealth Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,892 shares of the wireless technology company’s stock after selling 818 shares during the period. Baker Tilly Wealth Management LLC’s holdings in QUALCOMM were worth $905,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. MGO One Seven LLC lifted its stake in shares of QUALCOMM by 4.8% during the second quarter. MGO One Seven LLC now owns 13,059 shares of the wireless technology company’s stock worth $2,601,000 after purchasing an additional 604 shares in the last quarter. AdvisorShares Investments LLC purchased a new position in QUALCOMM in the 2nd quarter worth approximately $438,000. LPL Financial LLC grew its position in QUALCOMM by 10.4% in the second quarter. LPL Financial LLC now owns 1,163,321 shares of the wireless technology company’s stock valued at $231,710,000 after acquiring an additional 109,549 shares in the last quarter. American Century Companies Inc. raised its stake in shares of QUALCOMM by 2.8% during the second quarter. American Century Companies Inc. now owns 1,053,067 shares of the wireless technology company’s stock valued at $209,750,000 after purchasing an additional 28,327 shares during the period. Finally, Montis Financial LLC acquired a new position in shares of QUALCOMM during the second quarter worth $229,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QCOM. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. UBS Group lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Stock Performance

QUALCOMM stock traded down $1.56 during midday trading on Friday, reaching $157.52. 1,478,214 shares of the stock traded hands, compared to its average volume of 6,192,594. QUALCOMM Incorporated has a fifty-two week low of $136.03 and a fifty-two 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. The firm has a market cap of $175.00 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.65 and a beta of 1.25. The firm has a fifty day moving average price of $159.84 and a two-hundred day moving average price of $170.64.

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

Insider Activity

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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.

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.