Connective Portfolio Management LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Connective Portfolio Management LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 75.7% during the 3rd quarter, Holdings Channel reports. The firm owned 3,300 shares of the wireless technology company’s stock after selling 10,300 shares during the quarter. Connective Portfolio Management LLC’s holdings in QUALCOMM were worth $547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Czech National Bank increased its position in QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after purchasing an additional 13,888 shares during the last quarter. Legal & General Group Plc increased its position in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. City Holding Co. increased its position in shares of QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after acquiring an additional 199 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the second quarter worth $1,539,000. Finally, Federated Hermes Inc. increased its position in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after acquiring an additional 534,176 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on QCOM shares. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Tigress Financial increased their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Cantor Fitzgerald decreased their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.38.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock valued at $3,679,407 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $1.56 on Wednesday, reaching $167.90. 802,633 shares of the company’s stock were exchanged, compared to its average volume of 9,086,722. The firm has a market capitalization of $187.38 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.69 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The business’s 50-day moving average is $167.76 and its two-hundred day moving average is $182.14. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current 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.