Pinnacle Financial Partners Inc. trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,249 shares of the wireless technology company’s stock after selling 361 shares during the period. Pinnacle Financial Partners Inc.’s holdings in QUALCOMM were worth $5,957,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Center for Financial Planning Inc. boosted its stake in QUALCOMM by 82.5% during the 3rd quarter. Center for Financial Planning Inc. now owns 365 shares of the wireless technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the period. Cordasco Financial Network boosted its stake in QUALCOMM by 96.4% during the 3rd quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock valued at $44,000 after purchasing an additional 185 shares during the period. Hudock Inc. boosted its stake in QUALCOMM by 31.4% during the 3rd quarter. Hudock Inc. now owns 381 shares of the wireless technology company’s stock valued at $44,000 after purchasing an additional 91 shares during the period. Bedel Financial Consulting Inc. boosted its stake in QUALCOMM by 50.6% during the 3rd quarter. Bedel Financial Consulting Inc. now owns 384 shares of the wireless technology company’s stock valued at $45,000 after purchasing an additional 129 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $51,000. 74.79% of the stock is owned by institutional investors and hedge funds.
NASDAQ QCOM opened at $157.42 on Thursday. The stock has a fifty day moving average of $150.40 and a 200-day moving average of $124.06. The stock has a market capitalization of $178.04 billion, a P/E ratio of 66.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. QUALCOMM Incorporated has a 52 week low of $58.00 and a 52 week high of $161.07. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97.
In related news, President Cristiano R. Amon sold 73,220 shares of QUALCOMM stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the completion of the sale, the president now directly owns 50,753 shares of the company’s stock, valued at $7,547,986.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alexander H. Rogers sold 5,526 shares of QUALCOMM stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $142.48, for a total value of $787,344.48. Following the sale, the executive vice president now directly owns 29,779 shares of the company’s stock, valued at $4,242,911.92. The disclosure for this sale can be found here. Insiders sold a total of 136,909 shares of company stock valued at $20,502,275 over the last three months. Insiders own 0.12% of the company’s stock.
A number of brokerages have commented on QCOM. Sanford C. Bernstein reiterated a “buy” rating and issued a $165.00 price objective on shares of QUALCOMM in a research report on Thursday, November 5th. Citigroup raised their price objective on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. BNP Paribas upgraded QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Friday, September 25th. Raymond James raised their target price on QUALCOMM from $120.00 to $150.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 5th. Finally, Robert W. Baird assumed coverage on QUALCOMM in a research report on Tuesday, December 22nd. They set an “outperform” rating and a $200.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $146.85.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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