RMR Wealth Builders Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

RMR Wealth Builders lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,173 shares of the wireless technology company’s stock after purchasing an additional 659 shares during the period. RMR Wealth Builders’ holdings in QUALCOMM were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter worth about $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% in 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 last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM during the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the third quarter valued at approximately $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $164.41 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $159.38 and its 200-day simple moving average is $169.37. The company has a market capitalization of $182.66 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $137.35 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred 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 of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QCOM. UBS Group lifted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. 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 given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

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.