United Asset Strategies Inc. Buys 658 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

United Asset Strategies Inc. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,789 shares of the wireless technology company’s stock after purchasing an additional 658 shares during the period. United Asset Strategies Inc.’s holdings in QUALCOMM were worth $2,428,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in QCOM. DHJJ Financial Advisors Ltd. purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd 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 during the period. Milestone Investment Advisors LLC bought a new position in QUALCOMM in the 1st quarter worth $26,000. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter worth about $29,000. Finally, Pacific Center for Financial Services bought a new stake in shares of QUALCOMM during the 1st quarter valued at about $31,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.21 during trading on Tuesday, hitting $168.63. 2,299,537 shares of the company’s stock traded hands, compared to its average volume of 8,556,078. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The business has a 50-day simple moving average of $163.62 and a 200-day simple moving average of $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. The stock has a market capitalization of $188.19 billion, a P/E ratio of 24.34, a PEG ratio of 2.34 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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 firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock valued at $7,184,678 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Canaccord Genuity Group raised their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Cantor Fitzgerald raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Company Profile

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.