Ridgewood Investments LLC Has $1.98 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ridgewood Investments LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 43.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,858 shares of the wireless technology company’s stock after buying an additional 3,917 shares during the period. QUALCOMM makes up about 1.0% of Ridgewood Investments LLC’s investment portfolio, making the stock its 16th largest position. Ridgewood Investments LLC’s holdings in QUALCOMM were worth $1,975,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp increased its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM during the third quarter valued at approximately $39,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 2.0 %

Shares of QUALCOMM stock traded down $3.21 during trading hours on Friday, hitting $155.87. The company’s stock had a trading volume of 2,152,933 shares, compared to its average volume of 6,320,445. QUALCOMM Incorporated has a 12 month low of $136.03 and a 12 month high of $230.63. The stock has a 50 day moving average of $159.84 and a 200 day moving average of $170.64. The company has a market capitalization of $173.17 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. 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 (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

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.