St. Louis Financial Planners Asset Management LLC Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

St. Louis Financial Planners Asset Management LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,307 shares of the wireless technology company’s stock after selling 544 shares during the quarter. QUALCOMM makes up approximately 1.3% of St. Louis Financial Planners Asset Management LLC’s portfolio, making the stock its 22nd largest holding. St. Louis Financial Planners Asset Management LLC’s holdings in QUALCOMM were worth $1,737,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in QUALCOMM during the second quarter worth about $2,995,000. WealthPLAN Partners LLC raised its holdings in QUALCOMM by 21.4% in the 2nd quarter. WealthPLAN Partners LLC now owns 1,634 shares of the wireless technology company’s stock valued at $325,000 after buying an additional 288 shares during the period. Pekin Hardy Strauss Inc. increased its position in shares of QUALCOMM by 22.3% during the second quarter. Pekin Hardy Strauss Inc. now owns 4,800 shares of the wireless technology company’s stock valued at $956,000 after acquiring an additional 875 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of QUALCOMM by 3.9% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 37,063 shares of the wireless technology company’s stock worth $7,382,000 after acquiring an additional 1,384 shares during the last quarter. Finally, Andar Capital Management HK Ltd acquired a new stake in QUALCOMM in the 2nd quarter valued at approximately $3,944,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $164.41 on Thursday. The business has a fifty day simple moving average of $159.38 and a 200-day simple moving average of $169.37. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63. The company has a market cap of $182.66 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

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.