Cornerstone Planning Group LLC Has $94,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Planning Group LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 672 shares of the wireless technology company’s stock after purchasing an additional 171 shares during the quarter. Cornerstone Planning Group LLC’s holdings in QUALCOMM were worth $94,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 70 shares during the period. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on QCOM shares. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company cut their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Citigroup boosted their price objective on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $186.39.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,310,735 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $159.35 on Thursday. The firm has a market capitalization of $174.97 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The firm’s fifty day moving average price is $152.00 and its two-hundred day moving average price is $155.07. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 earnings per share. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

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.