QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by Marcum Wealth LLC

Marcum Wealth LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,529 shares of the wireless technology company’s stock after acquiring an additional 200 shares during the period. Marcum Wealth LLC’s holdings in QUALCOMM were worth $430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Czech National Bank boosted its stake in QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares during the period. Legal & General Group Plc boosted its position in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. City Holding Co. grew its stake in shares of QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares in the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of QUALCOMM during the second quarter valued at $1,539,000. Finally, Federated Hermes Inc. raised its stake in shares of QUALCOMM by 173.3% during the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock valued at $167,781,000 after purchasing an additional 534,176 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 1.0 %

Shares of QUALCOMM stock opened at $168.52 on Friday. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. 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 stock has a 50 day moving average price of $167.54 and a two-hundred day moving average price of $182.06. The stock has a market capitalization of $187.73 billion, a P/E ratio of 21.83, a PEG ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.23 billion. Equities analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $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 available at this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,245 shares of company stock worth $3,679,407. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on QCOM shares. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Cantor Fitzgerald cut their price objective on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.