Planning Directions Inc. Purchases Shares of 30,611 QUALCOMM Incorporated (NASDAQ:QCOM)

Planning Directions Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,611 shares of the wireless technology company's stock, valued at approximately $4,702,000. QUALCOMM accounts for about 2.0% of Planning Directions Inc.'s portfolio, making the stock its 15th largest holding.

Several other institutional investors have also modified their holdings of QCOM. Abound Financial LLC purchased a new stake in QUALCOMM in the 1st quarter valued at about $39,000. Crossmark Global Holdings Inc. grew its position in shares of QUALCOMM by 1.8% during the first quarter. Crossmark Global Holdings Inc. now owns 382,225 shares of the wireless technology company's stock worth $58,714,000 after buying an additional 6,607 shares in the last quarter. Centennial Bank AR grew its position in shares of QUALCOMM by 47.5% during the first quarter. Centennial Bank AR now owns 618 shares of the wireless technology company's stock worth $95,000 after buying an additional 199 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of QUALCOMM by 6.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 68,729 shares of the wireless technology company's stock worth $10,557,000 after buying an additional 4,212 shares in the last quarter. Finally, Financial Counselors Inc. boosted its holdings in QUALCOMM by 6.1% in the first quarter. Financial Counselors Inc. now owns 211,168 shares of the wireless technology company's stock valued at $32,438,000 after purchasing an additional 12,229 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was 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 directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.2%

QCOM traded down $0.26 during trading on Thursday, hitting $159.09. The company had a trading volume of 5,671,246 shares, compared to its average volume of 8,525,694. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The business has a 50-day moving average of $152.00 and a 200-day moving average of $155.07. The company has a market cap of $174.68 billion, a PE ratio of 16.20, a P/E/G ratio of 2.06 and a beta of 1.26.

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, beating the consensus estimate of $2.82 by $0.03. The firm 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 firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. 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. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $186.39.

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.