Stratos Wealth Partners LTD. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stratos Wealth Partners LTD. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,921 shares of the wireless technology company's stock after selling 3,345 shares during the period. Stratos Wealth Partners LTD.'s holdings in QUALCOMM were worth $18,114,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Stratos Investment Management LLC bought a new position in QUALCOMM during the 1st quarter worth $311,000. May Hill Capital LLC increased its position in QUALCOMM by 5.7% during the 1st quarter. May Hill Capital LLC now owns 1,416 shares of the wireless technology company's stock worth $218,000 after buying an additional 76 shares during the period. Garrett Wealth Advisory Group LLC increased its position in QUALCOMM by 7.7% during the 1st quarter. Garrett Wealth Advisory Group LLC now owns 2,964 shares of the wireless technology company's stock worth $455,000 after buying an additional 211 shares during the period. ARGA Investment Management LP increased its position in QUALCOMM by 2,533.7% during the 1st quarter. ARGA Investment Management LP now owns 166,926 shares of the wireless technology company's stock worth $25,642,000 after buying an additional 160,588 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in QUALCOMM by 30.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 35,992 shares of the wireless technology company's stock worth $5,529,000 after buying an additional 8,396 shares during the period. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Evercore ISI dropped their price target 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. One 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 MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $186.39.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Price Performance

QUALCOMM stock traded down $1.63 during midday trading on Friday, reaching $157.46. The company's stock had a trading volume of 5,902,831 shares, compared to its average volume of 8,528,385. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $152.83 and a 200-day moving average price of $155.06. The stock has a market cap of $172.89 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 earnings per share. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

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.