QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Aspen Wealth Strategies LLC

Aspen Wealth Strategies LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,038 shares of the wireless technology company’s stock after purchasing an additional 287 shares during the period. Aspen Wealth Strategies LLC’s holdings in QUALCOMM were worth $313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC raised its position in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth about $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Evercore ISI cut their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Citigroup boosted their price objective on shares of QUALCOMM from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $188.00.

QUALCOMM Price Performance

Shares of QCOM stock opened at $159.45 on Wednesday. The company has a market capitalization of $175.08 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The firm has a fifty day simple moving average of $151.78 and a 200-day simple moving average of $155.04. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.