Lipe & Dalton Sells 99 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lipe & Dalton decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,496 shares of the wireless technology company’s stock after selling 99 shares during the period. Lipe & Dalton’s holdings in QUALCOMM were worth $1,663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. purchased a new position in QUALCOMM during the third quarter worth about $26,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth about $35,000. Finally, Pacific Center for Financial Services bought a new position in QUALCOMM during the 1st quarter valued at approximately $31,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Evercore ISI began coverage on QUALCOMM in a research note on Tuesday. They set an “in-line” rating and a $177.00 target price on the stock. Mizuho lifted their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. TD Cowen lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Cantor Fitzgerald boosted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Trading Down 0.7 %

Shares of NASDAQ:QCOM traded down $1.26 during trading on Tuesday, reaching $168.58. The stock had a trading volume of 6,262,776 shares, compared to its average volume of 8,612,769. The business has a fifty day moving average price of $163.62 and a 200-day moving average price of $141.64. The company has a quick ratio of 1.88, a current ratio of 2.56 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 PEG ratio of 2.34 and a beta of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $9.50 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. 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 the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock valued at $7,184,678 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.