Connective Portfolio Management LLC Sells 10,300 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Connective Portfolio Management LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 75.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the wireless technology company’s stock after selling 10,300 shares during the period. Connective Portfolio Management LLC’s holdings in QUALCOMM were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. St. Louis Financial Planners Asset Management LLC increased its stake in QUALCOMM by 10.2% in the third quarter. St. Louis Financial Planners Asset Management LLC now owns 11,851 shares of the wireless technology company’s stock valued at $2,002,000 after acquiring an additional 1,098 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at $199,000. Brookstone Capital Management grew its position in shares of QUALCOMM by 3.5% during the 3rd quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock valued at $4,957,000 after acquiring an additional 991 shares during the period. City Holding Co. boosted its holdings in QUALCOMM by 63.0% in the 3rd quarter. City Holding Co. now owns 10,538 shares of the wireless technology company’s stock worth $1,792,000 after buying an additional 4,074 shares during the period. Finally, O Keefe Stevens Advisory Inc. lifted its stake in QUALCOMM by 1.2% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 133,499 shares of the wireless technology company’s stock worth $22,702,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $1.56 on Wednesday, reaching $167.90. 802,633 shares of the company’s stock traded hands, compared to its average volume of 9,086,722. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $167.76 and a 200-day simple moving average of $182.14. The firm has a market cap of $187.38 billion, a PE ratio of 22.31, a P/E/G ratio of 1.69 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.38.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM 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 sale, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. 0.08% of the stock is currently owned by corporate insiders.

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.