Grandview Asset Management LLC Invests $385,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Grandview Asset Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,509 shares of the wireless technology company’s stock, valued at approximately $385,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. HWG Holdings LP acquired a new position in QUALCOMM in the second quarter valued at about $30,000. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at $26,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Hershey Financial Advisers LLC acquired a new position in QUALCOMM in the second quarter worth $42,000. Finally, Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the third quarter worth $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased 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. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $207.11.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % 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. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $157.13 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63. The stock’s 50 day moving average price is $159.51 and its two-hundred day moving average price is $169.65. The firm has a market capitalization of $174.57 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 2.65 and a beta of 1.25.

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. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share 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.