Marino Stram & Associates LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Marino Stram & Associates LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,973 shares of the wireless technology company’s stock after acquiring an additional 73 shares during the period. Marino Stram & Associates LLC’s holdings in QUALCOMM were worth $430,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. grew its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $35,000. Finally, Pacific Center for Financial Services acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QCOM stock traded down $1.92 on Tuesday, hitting $167.92. The company’s stock had a trading volume of 2,913,101 shares, compared to its average volume of 8,563,422. The firm has a 50 day moving average of $163.62 and a two-hundred day moving average of $141.64. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The stock has a market cap of $187.40 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,360 shares of company stock worth $7,184,678. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Mizuho lifted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

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.