Stratos Wealth Advisors LLC Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stratos Wealth Advisors LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,062 shares of the wireless technology company's stock after selling 2,022 shares during the quarter. Stratos Wealth Advisors LLC's holdings in QUALCOMM were worth $1,392,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QCOM. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of 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 purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM during the 4th quarter valued at $30,000. Institutional investors own 74.35% of the company's stock.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred 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 sale, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. 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 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 1.0%

Shares of NASDAQ:QCOM traded down $1.63 during midday trading on Friday, hitting $157.46. 5,902,831 shares of the stock traded hands, compared to its average volume of 8,533,651. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The stock has a market capitalization of $172.89 billion, a PE ratio of 16.03, a P/E/G ratio of 2.03 and a beta of 1.26. The business's 50 day moving average is $152.83 and its two-hundred day moving average is $155.03. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $10.58 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The business's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research reports. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Loop Capital cut their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. One research 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.com, the company currently has an average rating of "Hold" and a consensus price target of $186.39.

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.