Morton Capital Management LLC CA Has $350,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Morton Capital Management LLC CA boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,058 shares of the wireless technology company’s stock after purchasing an additional 161 shares during the period. Morton Capital Management LLC CA’s holdings in QUALCOMM were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter worth approximately $27,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter valued at $32,000. Aspect Partners LLC lifted its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM in the first quarter worth $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Barclays lifted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.38.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $165.79 on Thursday. The stock has a market cap of $185.02 billion, a P/E ratio of 22.28, a PEG ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company’s 50-day simple moving average is $167.54 and its 200 day simple moving average is $182.06.

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

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, 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 at this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 in the company, valued at $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 sold 22,245 shares of company stock worth $3,679,407 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM 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.