QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,788 shares of the wireless technology company’s stock after selling 3,395 shares during the quarter. Philadelphia Trust Co.’s holdings in QUALCOMM were worth $7,188,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its holdings in shares of QUALCOMM by 10.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 367,046 shares of the wireless technology company’s stock valued at $56,391,000 after buying an additional 35,124 shares during the last quarter. Petros Family Wealth LLC purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $491,000. NFP Retirement Inc. grew its stake in shares of QUALCOMM by 14.5% in the 4th quarter. NFP Retirement Inc. now owns 1,868 shares of the wireless technology company’s stock valued at $287,000 after purchasing an additional 236 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of QUALCOMM by 8.3% in the fourth quarter. Sterling Capital Management LLC now owns 74,593 shares of the wireless technology company’s stock valued at $11,459,000 after purchasing an additional 5,746 shares during the period. Finally, Coign Capital Advisors LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $571,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCOM shares. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Hold” and an average target price of $201.21.

QUALCOMM Stock Performance

QUALCOMM stock opened at $139.25 on Friday. The company has a market cap of $154.01 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock’s 50-day moving average is $156.49 and its 200-day moving average is $161.46.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $5,047,052 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.