QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Allworth Financial LP

Allworth Financial LP reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,574 shares of the wireless technology company's stock after selling 12,422 shares during the period. Allworth Financial LP's holdings in QUALCOMM were worth $5,678,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of QUALCOMM by 50.1% in the 4th quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock worth $645,000 after acquiring an additional 1,401 shares during the period. PFG Advisors lifted its position in QUALCOMM by 11.5% in the 4th quarter. PFG Advisors now owns 3,993 shares of the wireless technology company's stock valued at $613,000 after purchasing an additional 411 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in QUALCOMM by 4.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 112,367 shares of the wireless technology company's stock valued at $17,262,000 after purchasing an additional 4,560 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 1.0%

Shares of NASDAQ:QCOM traded down $1.63 during midday trading on Friday, reaching $157.46. The company had a trading volume of 5,902,831 shares, compared to its average volume of 8,528,385. The company has a fifty day simple moving average of $152.48 and a two-hundred day simple moving average of $155.07. The firm has a market cap of $172.89 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 earnings per share. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI reduced their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $186.39.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. Corporate insiders own 0.08% of the company's stock.

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.