Ascent Wealth Partners LLC Sells 13,802 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ascent Wealth Partners LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,793 shares of the wireless technology company's stock after selling 13,802 shares during the quarter. Ascent Wealth Partners LLC's holdings in QUALCOMM were worth $6,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter valued at $27,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the 4th quarter worth $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 0.9%

QUALCOMM stock traded down $1.46 during mid-day trading on Thursday, hitting $152.61. 7,015,168 shares of the company's stock were exchanged, compared to its average volume of 8,493,011. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a market cap of $167.57 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $196.24. The stock has a 50 day moving average of $153.60 and a two-hundred day moving average of $154.97.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the business earned $2.44 earnings per share. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on QCOM. Bank of America lowered their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $186.61.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.

About QUALCOMM

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.