Franklin Street Advisors Inc. NC Buys 16,801 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Franklin Street Advisors Inc. NC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,539 shares of the wireless technology company’s stock after acquiring an additional 16,801 shares during the period. Franklin Street Advisors Inc. NC’s holdings in QUALCOMM were worth $11,995,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CCM Investment Advisers LLC increased its holdings in QUALCOMM by 60.7% in the 3rd quarter. CCM Investment Advisers LLC now owns 78,559 shares of the wireless technology company’s stock worth $13,359,000 after acquiring an additional 29,677 shares during the last quarter. Albion Financial Group UT increased its holdings in QUALCOMM by 0.3% in the 3rd quarter. Albion Financial Group UT now owns 56,116 shares of the wireless technology company’s stock worth $9,542,000 after acquiring an additional 152 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $1,059,000. Contravisory Investment Management Inc. grew its holdings in QUALCOMM by 14,458.8% during the 3rd quarter. Contravisory Investment Management Inc. now owns 2,475 shares of the wireless technology company’s stock valued at $421,000 after buying an additional 2,458 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management grew its holdings in QUALCOMM by 2.9% during the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 25,799 shares of the wireless technology company’s stock valued at $4,387,000 after buying an additional 720 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.38 during trading on Friday, hitting $167.14. 295,159 shares of the company were exchanged, compared to its average volume of 9,046,630. The stock has a market capitalization of $186.19 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.71 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm has a 50 day moving average price of $167.63 and a 200 day moving average price of $181.97.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup boosted their target price on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Barclays boosted their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $209.38.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 in the last quarter. 0.08% of the stock is owned by corporate insiders.

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.