Peoples Financial Services CORP. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Peoples Financial Services CORP. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,083 shares of the wireless technology company’s stock after selling 96 shares during the quarter. Peoples Financial Services CORP.’s holdings in QUALCOMM were worth $1,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in QUALCOMM during the second quarter worth about $30,000. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter valued at about $26,000. Planning Capital Management Corp boosted its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in QUALCOMM in the second quarter valued at about $42,000. Finally, Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter valued at about $36,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on QCOM shares. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Morgan Stanley dropped their target price 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. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Evercore ISI boosted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Price Performance

QCOM stock opened at $159.53 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a one year low of $137.35 and a one year high of $230.63. The stock 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. The firm has a 50 day simple moving average of $159.38 and a two-hundred day simple moving average 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, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on 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 sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction 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 $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

About QUALCOMM

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.