Park Avenue Securities LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Park Avenue Securities LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,091 shares of the wireless technology company’s stock after selling 2,101 shares during the period. Park Avenue Securities LLC’s holdings in QUALCOMM were worth $4,315,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QCOM. Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of QUALCOMM by 4.5% in the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,916 shares of the wireless technology company’s stock valued at $294,000 after acquiring an additional 82 shares during the period. Fifth Third Wealth Advisors LLC raised its position in QUALCOMM by 11.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 16,948 shares of the wireless technology company’s stock valued at $2,603,000 after purchasing an additional 1,756 shares during the period. Community Trust & Investment Co. lifted its stake in shares of QUALCOMM by 4.2% during the fourth quarter. Community Trust & Investment Co. now owns 18,367 shares of the wireless technology company’s stock worth $2,822,000 after purchasing an additional 745 shares in the last quarter. Crestmont Private Wealth LLC boosted its position in shares of QUALCOMM by 14.0% in the fourth quarter. Crestmont Private Wealth LLC now owns 2,367 shares of the wireless technology company’s stock worth $364,000 after buying an additional 291 shares during the period. Finally, Define Financial LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $242,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $161.43 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $159.21 and its two-hundred day moving average is $169.34. The firm has a market capitalization of $179.35 billion, a P/E ratio of 17.96, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on QCOM shares. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM 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.