Abound Wealth Management Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Abound Wealth Management cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.6% in the fourth quarter, Holdings Channel reports. The firm owned 322 shares of the wireless technology company’s stock after selling 142 shares during the period. Abound Wealth Management’s holdings in QUALCOMM were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. Wedmont Private Capital increased its holdings in shares of QUALCOMM by 8.0% in the 4th quarter. Wedmont Private Capital now owns 11,827 shares of the wireless technology company’s stock valued at $1,857,000 after acquiring an additional 881 shares during the period. Westmount Partners LLC grew its position in QUALCOMM by 16.9% during the 4th quarter. Westmount Partners LLC now owns 10,045 shares of the wireless technology company’s stock worth $1,543,000 after purchasing an additional 1,450 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in QUALCOMM by 12.6% in the fourth quarter. CHICAGO TRUST Co NA now owns 8,921 shares of the wireless technology company’s stock valued at $1,370,000 after purchasing an additional 997 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $54,000. Finally, Capital Investment Advisors LLC grew its holdings in shares of QUALCOMM by 2.0% during the fourth quarter. Capital Investment Advisors LLC now owns 264,541 shares of the wireless technology company’s stock worth $40,639,000 after buying an additional 5,256 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was 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 directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 0.1 %

Shares of QCOM stock traded up $0.17 during trading hours on Monday, hitting $157.15. 3,439,497 shares of the company were exchanged, compared to its average volume of 6,486,267. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63. The firm has a fifty day moving average of $159.67 and a 200 day moving average of $169.92. The firm has a market cap of $174.59 billion, a PE ratio of 17.48, a PEG ratio of 2.65 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on QCOM shares. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.