Crestmont Private Wealth LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Crestmont Private Wealth LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,367 shares of the wireless technology company’s stock after buying an additional 291 shares during the quarter. Crestmont Private Wealth LLC’s holdings in QUALCOMM were worth $364,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Brown Brothers Harriman & Co. boosted its stake in shares of QUALCOMM by 9.1% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 26,153 shares of the wireless technology company’s stock valued at $5,209,000 after buying an additional 2,190 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% during 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 acquiring an additional 3,047,947 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of QUALCOMM during the 2nd quarter worth about $2,995,000. WealthPLAN Partners LLC raised its position in shares of QUALCOMM by 21.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 1,634 shares of the wireless technology company’s stock worth $325,000 after acquiring an additional 288 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter worth about $548,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on QCOM. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

QUALCOMM Stock Up 1.5 %

QUALCOMM 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 1-year low of $137.35 and a 1-year high of $230.63. The company has a market cap of $177.24 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The stock’s 50 day moving average price is $159.38 and its 200 day moving average price is $169.37.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share 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 firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

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.