Cullen Investment Group LTD. Has $1.64 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cullen Investment Group LTD. trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 10,671 shares of the wireless technology company’s stock after selling 221 shares during the quarter. Cullen Investment Group LTD.’s holdings in QUALCOMM were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Paulson Wealth Management Inc. raised its position in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares in the last quarter. Blossom Wealth Management lifted its stake in QUALCOMM by 2.6% in the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after acquiring an additional 64 shares during the period. Delta Financial Advisors LLC increased its position in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. Muirfield Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 3.1% in the 3rd quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after purchasing an additional 66 shares in the last quarter. Finally, Invst LLC lifted its position in shares of QUALCOMM by 2.9% in the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after purchasing an additional 67 shares during the period. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Up 0.1 %

Shares of QCOM opened at $157.13 on Tuesday. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market capitalization of $174.57 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a 50-day simple moving average of $159.51 and a 200-day simple moving average of $169.65.

QUALCOMM (NASDAQ:QCOM) last released 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. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, TD Cowen raised QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $207.11.

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.