Carnegie Investment Counsel Sells 1,124 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Carnegie Investment Counsel cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 170,517 shares of the wireless technology company’s stock after selling 1,124 shares during the period. Carnegie Investment Counsel’s holdings in QUALCOMM were worth $26,195,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the second quarter valued at approximately $30,000. Planning Capital Management Corp grew its stake in 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 purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in QUALCOMM during the 3rd quarter worth $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value 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 represents a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $161.43 on Friday. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63. The business’s 50 day moving average price is $159.21 and its 200 day moving average price is $169.34. 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 cap of $179.35 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS 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 business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QCOM. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, UBS Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Company 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.