Fulton Bank N.A. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Fulton Bank N.A. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,608 shares of the wireless technology company’s stock after selling 2,459 shares during the quarter. Fulton Bank N.A.’s holdings in QUALCOMM were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Massachusetts Financial Services Co. MA raised its position in QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares during the period. International Assets Investment Management LLC raised its holdings in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC lifted its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Activity

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.9 %

QCOM stock opened at $159.08 on Thursday. The stock has a market capitalization of $176.74 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1-year low of $136.03 and a 1-year high of $230.63. The business has a fifty day moving average price of $159.91 and a 200-day moving average price of $170.72.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

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.