CWA Asset Management Group LLC Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

CWA Asset Management Group LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,353 shares of the wireless technology company’s stock after purchasing an additional 1,265 shares during the quarter. CWA Asset Management Group LLC’s holdings in QUALCOMM were worth $12,344,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the third quarter worth about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on QCOM. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $4.47 during midday trading on Monday, hitting $162.30. The company’s stock had a trading volume of 1,999,135 shares, compared to its average volume of 4,221,835. QUALCOMM Incorporated has a fifty-two week low of $136.03 and a fifty-two week high of $230.63. The stock has a market capitalization of $180.32 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.65 and a beta of 1.25. The stock’s 50 day simple moving average is $160.64 and its 200 day simple moving average is $171.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. 0.08% of the stock is owned by company 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.