QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,326 shares of the wireless technology company’s stock after selling 518 shares during the quarter. Dakota Wealth Management’s holdings in QUALCOMM were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM during the first quarter worth about $26,000. DHJJ Financial Advisors Ltd. acquired a new position in QUALCOMM in the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. boosted its position in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the period. Fortitude Family Office LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $35,000. Finally, Pacific Center for Financial Services acquired a new position in shares of QUALCOMM during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their price objective on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Susquehanna boosted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, Evercore ISI started coverage on QUALCOMM in a report on Tuesday. They set an “in-line” rating and a $177.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at $2,747,520. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,360 shares of company stock valued at $7,184,678. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $168.58 on Wednesday. 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 firm has a market cap of $188.14 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.32 and a beta of 1.41. The company has a 50 day moving average of $164.11 and a 200-day moving average of $142.05. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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 business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

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.