Keystone Wealth Services LLC Sells 413 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

Keystone Wealth Services LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 16.3% in the 3rd quarter, Holdings Channel reports. The firm owned 2,118 shares of the wireless technology company’s stock after selling 413 shares during the quarter. Keystone Wealth Services LLC’s holdings in QUALCOMM were worth $360,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in QCOM. Matrix Capital Management Company LP bought a new position in QUALCOMM in the 1st quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA boosted its stake in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares during the period. Van ECK Associates Corp boosted its stake in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the period. Global Assets Advisory LLC bought a new position in QUALCOMM in the 1st quarter worth about $238,770,000. Finally, Maj Invest Holding A S bought a new position in QUALCOMM in the 3rd quarter worth about $229,078,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.2 %

QCOM traded down $3.95 on Tuesday, hitting $174.09. 12,391,306 shares of the company were exchanged, compared to its average volume of 9,086,811. The firm has a fifty day simple moving average of $168.25 and a two-hundred day simple moving average of $182.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a market capitalization of $194.28 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on QCOM shares. Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald lowered their price target on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Citigroup raised their price target on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Tigress Financial raised their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. Finally, DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $209.38.

Check Out Our Latest Report on QUALCOMM

QUALCOMM Company Profile

(Free Report)

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.

Further Reading

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