Csenge Advisory Group Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Csenge Advisory Group cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,293 shares of the wireless technology company’s stock after selling 154 shares during the period. Csenge Advisory Group’s holdings in QUALCOMM were worth $896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth $27,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth approximately $32,000. Cherry Tree Wealth Management LLC raised its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $35,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,185 shares of company stock worth $8,552,835. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 4.3 %

Shares of QCOM opened at $199.85 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a market capitalization of $223.03 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.54 and a beta of 1.27. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The business’s 50 day simple moving average is $202.70 and its 200-day simple moving average is $173.15.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. Tigress Financial upped their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.96.

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.