Acropolis Investment Management LLC Sells 4,725 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Acropolis Investment Management LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,471 shares of the wireless technology company's stock after selling 4,725 shares during the period. Acropolis Investment Management LLC's holdings in QUALCOMM were worth $1,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the 2nd quarter valued at $30,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the 3rd quarter worth about $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QCOM stock traded up $4.88 during trading hours on Wednesday, reaching $164.41. 9,279,402 shares of the company were exchanged, compared to its average volume of 7,066,707. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company has a market cap of $182.66 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.65 and a beta of 1.25. The stock's fifty day moving average is $159.38 and its two-hundred day moving average is $169.37. QUALCOMM Incorporated has a fifty-two week low of $137.35 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company's stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 over the last three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 price objective on the stock. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Evercore ISI raised their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Finally, Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $207.11.

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.