Iowa State Bank Sells 346 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Iowa State Bank decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,974 shares of the wireless technology company’s stock after selling 346 shares during the quarter. Iowa State Bank’s holdings in QUALCOMM were worth $3,056,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter valued at approximately $27,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the 2nd quarter worth $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth $32,000. Aspect Partners LLC raised its holdings in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in QUALCOMM during the first quarter valued at $37,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $169.98 on Friday. The firm has a market capitalization of $189.70 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The firm has a 50-day moving average price of $167.85 and a 200-day moving average price of $181.98. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

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

Insiders Place Their Bets

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 transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on QCOM shares. Tigress Financial raised their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Citigroup lifted their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Rosenblatt Securities lifted their target price on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald cut their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.38.

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.