First National Corp MA ADV Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First National Corp MA ADV reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,737 shares of the wireless technology company’s stock after selling 74 shares during the quarter. First National Corp MA ADV’s holdings in QUALCOMM were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. St. Louis Financial Planners Asset Management LLC increased its holdings in shares of QUALCOMM by 10.2% in the 3rd quarter. St. Louis Financial Planners Asset Management LLC now owns 11,851 shares of the wireless technology company’s stock worth $2,002,000 after buying an additional 1,098 shares during the last quarter. Marquette Asset Management LLC bought a new stake in QUALCOMM during the third quarter worth approximately $199,000. Brookstone Capital Management lifted its stake in shares of QUALCOMM by 3.5% in the 3rd quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock valued at $4,957,000 after purchasing an additional 991 shares during the last quarter. City Holding Co. boosted its holdings in shares of 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 purchasing an additional 4,074 shares during the period. Finally, O Keefe Stevens Advisory Inc. increased its position in shares of QUALCOMM by 1.2% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 133,499 shares of the wireless technology company’s stock valued at $22,702,000 after purchasing an additional 1,613 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $1.15 during trading hours on Wednesday, hitting $167.49. 723,151 shares of the company were exchanged, compared to its average volume of 9,087,588. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market capitalization of $186.92 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.69 and a beta of 1.28. The company’s 50 day moving average price is $167.76 and its 200-day moving average price is $182.14.

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

Insider Activity

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 value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,245 shares of company stock valued at $3,679,407. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Tigress Financial increased their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.38.

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.