QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Park National Corp OH

Park National Corp OH trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,134 shares of the wireless technology company’s stock after selling 1,127 shares during the quarter. Park National Corp OH’s holdings in QUALCOMM were worth $1,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new stake in QUALCOMM during the second quarter worth about $30,000. Planning Capital Management Corp lifted its position in shares of 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 purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 transaction of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. Evercore ISI raised their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Susquehanna cut their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Down 0.9 %

QCOM opened at $159.08 on Thursday. QUALCOMM Incorporated has a one year low of $136.03 and a one year high of $230.63. The company has a market cap of $176.74 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.65 and a beta of 1.25. The business’s fifty day moving average is $159.91 and its two-hundred day moving average is $170.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $9.90 billion. Analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

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.