Wealth Enhancement Advisory Services LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Enhancement Advisory Services LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 792,672 shares of the wireless technology company’s stock after buying an additional 616 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in QUALCOMM were worth $134,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Paulson Wealth Management Inc. lifted its holdings in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares in the last quarter. Blossom Wealth Management raised its stake in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after acquiring an additional 64 shares in the last quarter. Delta Financial Advisors LLC boosted its holdings in shares of QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. Muirfield Wealth Advisors LLC grew its stake in QUALCOMM by 3.1% in the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after purchasing an additional 66 shares in the last quarter. Finally, Invst LLC increased its holdings in QUALCOMM by 2.9% during the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. UBS Group raised their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction that occurred on 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 sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $2.61 during mid-day trading on Friday, hitting $156.47. The company’s stock had a trading volume of 1,753,416 shares, compared to its average volume of 6,255,366. The business’s fifty day moving average is $159.84 and its two-hundred day moving average is $170.64. The stock has a market cap of $173.84 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $136.03 and a 1 year high of $230.63. 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 (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

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.