West Paces Advisors Inc. Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

West Paces Advisors Inc. trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,326 shares of the wireless technology company’s stock after selling 760 shares during the period. West Paces Advisors Inc.’s holdings in QUALCOMM were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Signet Financial Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $433,000. Octavia Wealth Advisors LLC increased its stake in QUALCOMM by 47.5% in the fourth quarter. Octavia Wealth Advisors LLC now owns 7,152 shares of the wireless technology company’s stock valued at $1,034,000 after acquiring an additional 2,304 shares during the last quarter. Marino Stram & Associates LLC increased its stake in QUALCOMM by 2.5% in the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 73 shares during the last quarter. United Asset Strategies Inc. increased its stake in QUALCOMM by 4.1% in the fourth quarter. United Asset Strategies Inc. now owns 16,789 shares of the wireless technology company’s stock valued at $2,428,000 after acquiring an additional 658 shares during the last quarter. Finally, SVB Wealth LLC increased its stake in QUALCOMM by 7.2% in the fourth quarter. SVB Wealth LLC now owns 29,044 shares of the wireless technology company’s stock valued at $4,201,000 after acquiring an additional 1,960 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a filing with the SEC, which is available at this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock valued at $7,184,678 in the last three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Barclays upped their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Thursday, February 1st. Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $1.26 during trading hours on Tuesday, reaching $168.58. The company had a trading volume of 6,262,478 shares, compared to its average volume of 8,612,479. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The firm has a market cap of $188.14 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The business’s 50 day moving average price is $163.62 and its 200-day moving average price is $141.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

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