Pittenger & Anderson Inc. Sells 1,886 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Pittenger & Anderson Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 78.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 512 shares of the wireless technology company's stock after selling 1,886 shares during the period. Pittenger & Anderson Inc.'s holdings in QUALCOMM were worth $79,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter valued at about $27,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in QUALCOMM by 70.0% during the first 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 during the period. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on QCOM shares. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Bank of America reduced their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.39.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. 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. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 1.0%

QCOM opened at $157.46 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The firm's fifty day simple moving average is $152.83 and its 200 day simple moving average is $155.01. The stock has a market capitalization of $172.89 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.03 and a beta of 1.26.

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

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.

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