Foster Dykema Cabot & Partners LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Foster Dykema Cabot & Partners LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,223 shares of the wireless technology company’s stock after selling 195 shares during the period. Foster Dykema Cabot & Partners LLC’s holdings in QUALCOMM were worth $341,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in QCOM. First Commonwealth Financial Corp PA boosted its holdings in shares of QUALCOMM by 8.4% in the fourth quarter. First Commonwealth Financial Corp PA now owns 10,571 shares of the wireless technology company’s stock worth $1,624,000 after buying an additional 823 shares during the last quarter. Farringdon Capital Ltd. bought a new position in QUALCOMM in the fourth quarter worth approximately $200,000. NewEdge Advisors LLC grew its position in shares of QUALCOMM by 17.2% during the 4th quarter. NewEdge Advisors LLC now owns 98,897 shares of the wireless technology company’s stock valued at $15,192,000 after acquiring an additional 14,547 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of QUALCOMM by 22.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 7,641 shares of the wireless technology company’s stock worth $1,174,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Stenger Family Office LLC bought a new position in QUALCOMM in the 4th quarter worth $2,129,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $135.74 on Thursday. The company has a market cap of $150.13 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.01 and a beta of 1.28. The business’s 50 day moving average price is $154.50 and its 200-day moving average price is $160.83. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. 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 report on Tuesday, January 7th. Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $201.21.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now directly owns 56,445 shares of the company’s stock, valued at $7,964,953.95. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is currently owned by insiders.

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.