Alpha Omega Wealth Management LLC Sells 918 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Alpha Omega Wealth Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,434 shares of the wireless technology company’s stock after selling 918 shares during the period. Alpha Omega Wealth Management LLC’s holdings in QUALCOMM were worth $1,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Milestone Investment Advisors LLC acquired a new position in QUALCOMM in the 1st quarter valued at $26,000. DHJJ Financial Advisors Ltd. acquired a new position in QUALCOMM in the third quarter valued at about $26,000. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Fortitude Family Office LLC bought a new position in QUALCOMM in the 4th quarter valued at about $35,000. Finally, Pacific Center for Financial Services bought a new position in QUALCOMM in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, KeyCorp lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.90.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,360 shares of company stock worth $7,184,678. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.9 %

Shares of QUALCOMM stock traded down $3.19 during trading on Wednesday, hitting $165.39. 3,655,728 shares of the stock traded hands, compared to its average volume of 8,543,433. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $164.11 and its 200 day simple moving average is $142.05. The firm has a market cap of $184.58 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities analysts predict that QUALCOMM Incorporated will post 7.67 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.