Leo Wealth LLC Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Leo Wealth LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 31.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,006 shares of the wireless technology company's stock after selling 2,271 shares during the period. Leo Wealth LLC's holdings in QUALCOMM were worth $769,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of 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 worth $26,000 after buying an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the first quarter worth $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the 4th quarter valued at $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 0.0%

Shares of NASDAQ QCOM traded up $0.01 during trading on Tuesday, hitting $154.30. 6,461,254 shares of the company traded hands, compared to its average volume of 8,525,122. The firm has a market capitalization of $169.42 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 2.03 and a beta of 1.26. The business's fifty day moving average is $153.13 and its 200 day moving average is $154.98. 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 Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the business earned $2.44 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Bank of America cut their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.