Patton Albertson Miller Group LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Patton Albertson Miller Group LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,985 shares of the wireless technology company’s stock after selling 895 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in QUALCOMM were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in QCOM. Vanguard Group Inc. boosted its stake in QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Northern Trust Corp lifted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.9%

Shares of QCOM stock opened at $152.61 on Friday. The firm has a market capitalization of $167.57 billion, a PE ratio of 15.54, a PEG ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $196.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a fifty day simple moving average of $153.76 and a two-hundred day simple moving average of $154.96.

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

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on QCOM shares. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Citigroup reaffirmed a “hold” rating on shares of QUALCOMM in a report on Thursday. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Susquehanna cut their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $186.00.

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.