Essex Savings Bank Sells 66 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Essex Savings Bank decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,678 shares of the wireless technology company’s stock after selling 66 shares during the quarter. Essex Savings Bank’s holdings in QUALCOMM were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Paulson Wealth Management Inc. raised its stake in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares in the last quarter. Blossom Wealth Management boosted its holdings in QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after acquiring an additional 64 shares during the period. Delta Financial Advisors LLC grew its position in QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after acquiring an additional 65 shares during the last quarter. Muirfield Wealth Advisors LLC lifted its position in shares of QUALCOMM by 3.1% during the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after purchasing an additional 66 shares during the last quarter. Finally, Invst LLC boosted its stake in shares of QUALCOMM by 2.9% during the second quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after purchasing an additional 67 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction 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 approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 3.1 %

QUALCOMM stock opened at $164.41 on Thursday. 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 $182.66 billion, a PE ratio of 18.29, a P/E/G ratio of 2.63 and a beta of 1.25. The stock’s 50 day simple moving average is $159.38 and its two-hundred day simple moving average is $169.37. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QCOM. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Susquehanna reduced their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus 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.