Wallace Advisory Group LLC Has $379,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wallace Advisory Group LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,226 shares of the wireless technology company’s stock after acquiring an additional 401 shares during the period. Wallace Advisory Group LLC’s holdings in QUALCOMM were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter worth about $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $30,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM during the 3rd quarter worth $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $39,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

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

QUALCOMM Price Performance

Shares of QCOM opened at $157.13 on Tuesday. The business has a 50-day moving average of $159.51 and a 200-day moving average of $169.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market capitalization of $174.57 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $137.35 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QCOM. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM 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.