QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Peoples Financial Services CORP.

Peoples Financial Services CORP. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 11,968 shares of the wireless technology company’s stock after selling 115 shares during the quarter. Peoples Financial Services CORP.’s holdings in QUALCOMM were worth $1,838,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in QCOM. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 70.0% during 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 acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter worth about $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $159.35 on Thursday. The firm has a market cap of $174.97 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.06 and a beta of 1.26. The stock has a 50 day moving average of $152.00 and a 200-day moving average of $155.07. 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 Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09.

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

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Bank of America decreased their price target on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Finally, Citigroup lifted their price objective on QUALCOMM from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday. One 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, the stock presently has an average rating of “Hold” and an average target price of $186.39.

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.