QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Secured Retirement Advisors LLC

Secured Retirement Advisors LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 43.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,170 shares of the wireless technology company's stock after selling 8,679 shares during the period. QUALCOMM accounts for 1.1% of Secured Retirement Advisors LLC's holdings, making the stock its 22nd biggest position. Secured Retirement Advisors LLC's holdings in QUALCOMM were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Reyes Financial Architecture Inc. lifted its stake in QUALCOMM by 24.8% during the 1st quarter. Reyes Financial Architecture Inc. now owns 1,819 shares of the wireless technology company's stock valued at $279,000 after acquiring an additional 361 shares during the period. Cahaba Wealth Management Inc. purchased a new position in shares of QUALCOMM during the first quarter worth $202,000. Smith Thornton Advisors LLC lifted its position in QUALCOMM by 5.0% during the first quarter. Smith Thornton Advisors LLC now owns 3,357 shares of the wireless technology company's stock valued at $516,000 after purchasing an additional 160 shares during the period. CWM LLC lifted its position in QUALCOMM by 26.4% during the first quarter. CWM LLC now owns 173,848 shares of the wireless technology company's stock valued at $26,705,000 after purchasing an additional 36,343 shares during the period. Finally, Greatmark Investment Partners Inc. boosted its holdings in QUALCOMM by 0.9% in the first quarter. Greatmark Investment Partners Inc. now owns 169,705 shares of the wireless technology company's stock valued at $26,068,000 after purchasing an additional 1,543 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were 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 of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 over the last three months. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock's 50 day simple moving average is $152.83 and its 200-day simple moving average is $155.03. The company has a market cap of $172.89 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.03 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09.

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 the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during 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 was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent research reports. TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark decreased their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Bank of America lowered their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Citigroup increased their price target on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $186.39.

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.

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