Abbrea Capital LLC Sells 420 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

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Abbrea Capital LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,938 shares of the wireless technology company’s stock after selling 420 shares during the quarter. Abbrea Capital LLC’s holdings in QUALCOMM were worth $2,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. raised its holdings in QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after acquiring an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in QUALCOMM by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after acquiring an additional 245,335 shares in the last quarter. Merit Financial Group LLC raised its holdings in QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after acquiring an additional 555 shares in the last quarter. NewEdge Advisors LLC raised its holdings in QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after acquiring an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in QUALCOMM by 30.4% in the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after acquiring an additional 79,827 shares in the last quarter. 71.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider James J. Cathey sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $120.11, for a total transaction of $1,201,100.00. Following the completion of the sale, the chief technology officer now directly owns 243,795 shares of the company’s stock, valued at $29,282,217.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,098 shares of company stock valued at $1,866,840. 0.07% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.8 %

Shares of NASDAQ QCOM traded up $1.17 during trading on Monday, reaching $140.20. The company had a trading volume of 6,546,500 shares, compared to its average volume of 7,042,900. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $146.89. The company has a quick ratio of 1.67, a current ratio of 2.33 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average price is $134.12 and its 200-day moving average price is $121.46. The stock has a market cap of $156.04 billion, a P/E ratio of 21.84, a PEG ratio of 1.54 and a beta of 1.32.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.45 by $0.14. QUALCOMM had a return on equity of 37.85% and a net margin of 20.19%. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.26 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. StockNews.com raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, October 12th. Evercore ISI lowered their price target on QUALCOMM from $140.00 to $135.00 in a report on Thursday, October 5th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Friday, November 3rd. Finally, Citigroup raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $139.90.

View Our Latest Stock Report on QCOM

QUALCOMM Company Profile

(Free Report)

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.

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