Daymark Wealth Partners LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Daymark Wealth Partners LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,039 shares of the wireless technology company’s stock after selling 747 shares during the period. Daymark Wealth Partners LLC’s holdings in QUALCOMM were worth $21,093,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Legal & General Group Plc increased its stake in QUALCOMM by 0.9% during 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 during the last quarter. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the first quarter valued at $1,171,516,000. Putnam Investments LLC lifted its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $1.92 during trading on Wednesday, reaching $168.26. The company had a trading volume of 1,188,023 shares, compared to its average volume of 9,089,972. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock’s fifty day moving average price is $167.76 and its 200 day moving average price is $182.14. The firm has a market capitalization of $187.78 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that QUALCOMM Incorporated will post 8.02 EPS for the current year.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, July 17th. Cantor Fitzgerald dropped their target price on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $209.38.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.