Community Trust & Investment Co. Purchases 745 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Community Trust & Investment Co. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,367 shares of the wireless technology company’s stock after buying an additional 745 shares during the period. Community Trust & Investment Co.’s holdings in QUALCOMM were worth $2,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Crestmont Private Wealth LLC grew its stake in QUALCOMM by 14.0% in the 4th quarter. Crestmont Private Wealth LLC now owns 2,367 shares of the wireless technology company’s stock worth $364,000 after buying an additional 291 shares in the last quarter. Define Financial LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $242,000. Pines Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter worth $1,392,000. SeaCrest Wealth Management LLC increased its stake in QUALCOMM by 0.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 16,980 shares of the wireless technology company’s stock valued at $2,608,000 after acquiring an additional 141 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its position in QUALCOMM by 23.4% during the fourth quarter. Accurate Wealth Management LLC now owns 9,881 shares of the wireless technology company’s stock valued at $1,551,000 after purchasing an additional 1,872 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’s 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 sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. UBS Group upped 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. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Trading Up 1.5 %

QCOM opened at $159.53 on Wednesday. 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 Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63. The stock has a market cap of $177.24 billion, a PE ratio of 17.75, a PEG ratio of 2.65 and a beta of 1.25. The business has a 50 day moving average of $159.38 and a 200-day moving average of $169.37.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business 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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM 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.