Legacy Private Trust Co. Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Private Trust Co. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,428 shares of the wireless technology company’s stock after selling 270 shares during the quarter. Legacy Private Trust Co.’s holdings in QUALCOMM were worth $1,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $159.08 on Thursday. QUALCOMM Incorporated has a 1-year low of $136.03 and a 1-year high of $230.63. The firm has a market capitalization of $176.74 billion, a PE ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business’s fifty day moving average price is $159.91 and its two-hundred day moving average price is $170.72.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on QCOM shares. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

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.