Marcum Wealth LLC Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Marcum Wealth LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,936 shares of the wireless technology company’s stock after selling 593 shares during the period. Marcum Wealth LLC’s holdings in QUALCOMM were worth $297,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after purchasing an additional 3,014,302 shares during the period. International Assets Investment Management LLC grew its holdings in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Finally, Van ECK Associates Corp lifted its stake in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $159.53 on Wednesday. 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 firm has a market cap of $177.24 billion, a PE ratio of 17.75, a P/E/G ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The stock has a fifty day moving average price of $159.38 and a 200-day moving average price of $169.37.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Equities research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last three months. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of analyst reports. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.