Kingsview Wealth Management LLC Has $5.55 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingsview Wealth Management LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,141 shares of the wireless technology company’s stock after selling 19,099 shares during the quarter. Kingsview Wealth Management LLC’s holdings in QUALCOMM were worth $5,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in QUALCOMM by 565.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock worth $19,098,000 after purchasing an additional 105,631 shares in the last quarter. Teza Capital Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in QUALCOMM by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company’s stock worth $28,979,000 after buying an additional 6,017 shares in the last quarter. Kanawha Capital Management LLC lifted its stake in QUALCOMM by 1.9% during the first quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company’s stock worth $13,120,000 after purchasing an additional 1,573 shares during the last quarter. Finally, First Foundation Advisors lifted its stake in shares of QUALCOMM by 41.2% in the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after acquiring an additional 45,769 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.9%

QCOM opened at $152.61 on Friday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $196.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The firm’s fifty day moving average price is $153.76 and its two-hundred day moving average price is $154.96. The company has a market capitalization of $167.57 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 EPS. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Finally, Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $186.00.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,310,735 in the last quarter. 0.08% of the stock is currently owned by 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.