QUALCOMM, Inc. (QCOM) is Summit Financial Wealth Advisors LLC’s 8th Largest Position
Summit Financial Wealth Advisors LLC cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,480 shares of the wireless technology company’s stock after selling 8,648 shares during the quarter. QUALCOMM comprises approximately 2.1% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 8th largest position. Summit Financial Wealth Advisors LLC’s holdings in QUALCOMM were worth $5,779,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Westwood Holdings Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at approximately $114,000. Krilogy Financial LLC lifted its stake in shares of QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of QUALCOMM in the second quarter worth $141,000. Jacobi Capital Management LLC lifted its stake in shares of QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after buying an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 76.20% of the company’s stock.
A number of analysts have recently weighed in on the stock. Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price objective for the company in a research note on Tuesday, January 2nd. Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, November 28th. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.06.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $65.27 on Wednesday. The company has a market cap of $96,220.00, a price-to-earnings ratio of 39.56, a P/E/G ratio of 1.89 and a beta of 1.39. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. equities analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,989 shares of company stock valued at $1,868,744. Corporate insiders own 0.24% of the company’s stock.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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