International Assets Investment Management LLC Sells 2,917,429 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

International Assets Investment Management LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 99.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,881 shares of the wireless technology company’s stock after selling 2,917,429 shares during the quarter. International Assets Investment Management LLC’s holdings in QUALCOMM were worth $2,901,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in QCOM. Lantz Financial LLC bought a new stake in QUALCOMM during the second quarter worth about $234,000. HCR Wealth Advisors increased its stake in QUALCOMM by 10.0% in the second quarter. HCR Wealth Advisors now owns 1,385 shares of the wireless technology company’s stock valued at $276,000 after acquiring an additional 126 shares during the last quarter. LGT Fund Management Co Ltd. lifted its stake in QUALCOMM by 552.1% during the second quarter. LGT Fund Management Co Ltd. now owns 9,130 shares of the wireless technology company’s stock worth $1,819,000 after purchasing an additional 7,730 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of QUALCOMM by 3.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 472,704 shares of the wireless technology company’s stock valued at $94,153,000 after purchasing an additional 17,893 shares in the last quarter. Finally, Provident Investment Management Inc. bought a new position in shares of QUALCOMM in the 2nd quarter valued at $203,000. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on QCOM. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued 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.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $207.11.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was 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 directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 in the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.9 %

QCOM stock traded down $3.02 during trading on Wednesday, reaching $157.50. The company had a trading volume of 1,030,276 shares, compared to its average volume of 5,746,750. The business has a 50 day moving average of $160.08 and a 200 day moving average of $170.80. 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 cap of $174.98 billion, a P/E ratio of 17.52, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $136.03 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

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.