Sterneck Capital Management LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Sterneck Capital Management LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,044 shares of the wireless technology company’s stock after selling 587 shares during the period. QUALCOMM makes up approximately 0.9% of Sterneck Capital Management LLC’s holdings, making the stock its 27th largest holding. Sterneck Capital Management LLC’s holdings in QUALCOMM were worth $1,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lantz Financial LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter worth about $234,000. HCR Wealth Advisors raised its position in QUALCOMM by 10.0% during the second quarter. HCR Wealth Advisors now owns 1,385 shares of the wireless technology company’s stock worth $276,000 after acquiring an additional 126 shares during the last quarter. LGT Fund Management Co Ltd. lifted its holdings in shares of QUALCOMM by 552.1% in the second quarter. LGT Fund Management Co Ltd. now owns 9,130 shares of the wireless technology company’s stock valued at $1,819,000 after purchasing an additional 7,730 shares in the last quarter. Royal London Asset Management Ltd. grew its position in shares of QUALCOMM by 3.9% in the second quarter. Royal London Asset Management Ltd. now owns 472,704 shares of the wireless technology company’s stock valued at $94,153,000 after purchasing an additional 17,893 shares during the last quarter. Finally, Provident Investment Management Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter worth approximately $203,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Activity

In other QUALCOMM news, 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 transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $160.52 on Wednesday. The firm has a fifty day moving average of $160.08 and a 200-day moving average of $170.80. QUALCOMM Incorporated has a 52-week low of $136.03 and a 52-week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $178.34 billion, a P/E ratio of 17.86, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $9.90 billion. As a group, analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

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.