Beech Hill Advisors Inc. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Beech Hill Advisors Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 33,830 shares of the wireless technology company’s stock after acquiring an additional 582 shares during the quarter. QUALCOMM comprises about 1.9% of Beech Hill Advisors Inc.’s portfolio, making the stock its 13th largest holding. Beech Hill Advisors Inc.’s holdings in QUALCOMM were worth $5,197,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at about $30,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the third quarter worth about $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.0 %

QUALCOMM stock traded down $1.57 during mid-day trading on Thursday, reaching $162.84. 580,921 shares of the company’s stock were exchanged, compared to its average volume of 6,403,357. The company has a market cap of $180.92 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.63 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 Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63. The company has a fifty day moving average of $159.38 and a 200-day moving average of $169.37.

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

Wall Street Analyst Weigh In

Several analysts recently commented on QCOM shares. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Citigroup dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the 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.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. Company insiders own 0.08% of the company’s stock.

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.