West Paces Advisors Inc. Sells 760 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

West Paces Advisors Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,326 shares of the wireless technology company’s stock after selling 760 shares during the period. West Paces Advisors Inc.’s holdings in QUALCOMM were worth $626,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the period. State Street Corp boosted its holdings in QUALCOMM by 2.5% during the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after purchasing an additional 1,183,406 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Morgan Stanley boosted its holdings in QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in QUALCOMM by 7.0% during the second quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after purchasing an additional 1,178,546 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 0.7 %

Shares of QUALCOMM stock traded down $1.26 during trading hours on Tuesday, reaching $168.58. 6,262,478 shares of the company’s stock were exchanged, compared to its average volume of 8,612,479. The company has a 50 day moving average of $163.62 and a two-hundred day moving average of $141.64. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $188.14 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.34 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on QCOM shares. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald upped their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TD Cowen upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Susquehanna upped their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group upped their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Insider Buying and Selling at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock worth $7,184,678 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

About QUALCOMM

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.