Community Trust & Investment Co. Purchases 745 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Community Trust & Investment Co. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,367 shares of the wireless technology company’s stock after acquiring an additional 745 shares during the quarter. Community Trust & Investment Co.’s holdings in QUALCOMM were worth $2,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM during the third quarter valued at approximately $39,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.11.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM 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 completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

QCOM opened at $159.53 on Wednesday. The stock has a market capitalization of $177.24 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a fifty day moving average of $159.38 and a 200 day moving average of $169.37.

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

About QUALCOMM

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.