QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Decreased by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the fourth quarter, Holdings Channel reports. The firm owned 13,434 shares of the wireless technology company’s stock after selling 918 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in QUALCOMM were worth $1,943,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $376,000. Guidance Capital Inc. lifted its holdings in shares of QUALCOMM by 11.0% in the fourth quarter. Guidance Capital Inc. now owns 5,560 shares of the wireless technology company’s stock valued at $780,000 after purchasing an additional 549 shares in the last quarter. Sfmg LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $251,000. Quantum Private Wealth LLC boosted its position in shares of QUALCOMM by 0.5% in the fourth quarter. Quantum Private Wealth LLC now owns 21,509 shares of the wireless technology company’s stock worth $3,111,000 after buying an additional 100 shares during the period. Finally, Safeguard Financial LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $264,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. KeyCorp increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Susquehanna boosted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Finally, Piper Sandler boosted their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $3.19 during midday trading on Wednesday, reaching $165.39. The company had a trading volume of 3,655,728 shares, compared to its average volume of 8,543,433. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $164.11 and a 200 day simple moving average of $142.05. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a market capitalization of $184.58 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. In the last three months, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by corporate insiders.

About QUALCOMM

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.