Eagle Bay Advisors LLC Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Eagle Bay Advisors LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,570 shares of the wireless technology company’s stock after selling 212 shares during the quarter. Eagle Bay Advisors LLC’s holdings in QUALCOMM were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at $30,000. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at $26,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of QUALCOMM during the 2nd quarter valued at $42,000. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

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 value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on QCOM. 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. Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. One equities 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

QUALCOMM Trading Down 0.6 %

QCOM stock traded down $1.00 during trading on Monday, hitting $155.98. 1,849,278 shares of the company traded hands, compared to its average volume of 6,264,792. The firm has a market capitalization of $173.29 billion, a PE ratio of 17.35, a P/E/G ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63. The company has a 50-day moving average of $159.67 and a 200-day moving average of $169.92. 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 (NASDAQ:QCOM) last issued its 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 return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

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.