QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Trimmed by Griffin Asset Management Inc.

Griffin Asset Management Inc. lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,289 shares of the wireless technology company’s stock after selling 99 shares during the period. QUALCOMM comprises 1.3% of Griffin Asset Management Inc.’s portfolio, making the stock its 20th largest position. Griffin Asset Management Inc.’s holdings in QUALCOMM were worth $11,953,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in QCOM. Congress Asset Management Co. MA bought a new position in QUALCOMM in the fourth quarter worth about $222,000. ICA Group Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at approximately $115,000. CWM LLC grew its stake in QUALCOMM by 7.9% during the 1st quarter. CWM LLC now owns 97,598 shares of the wireless technology company’s stock worth $16,523,000 after buying an additional 7,173 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in QUALCOMM by 6.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 6,254 shares of the wireless technology company’s stock worth $1,059,000 after buying an additional 396 shares during the last quarter. Finally, Monterey Private Wealth Inc. bought a new stake in QUALCOMM in the first quarter valued at $219,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,245 shares of company stock valued at $3,679,407. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 2.2 %

Shares of QUALCOMM stock opened at $174.09 on Wednesday. The stock’s fifty day moving average is $168.55 and its 200-day moving average is $182.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $194.28 billion, a PE ratio of 23.40, 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.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Susquehanna upped their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $209.38.

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.