CCM Investment Advisers LLC Has $11.56 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CCM Investment Advisers LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,225 shares of the wireless technology company's stock after selling 3,334 shares during the period. CCM Investment Advisers LLC's holdings in QUALCOMM were worth $11,556,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter valued at $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at about $30,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% in the third 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 QUALCOMM during the third quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Melius Research assumed 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. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $207.11.

QUALCOMM Stock Performance

QCOM traded down $2.10 during trading on Friday, hitting $156.98. The stock had a trading volume of 6,235,833 shares, compared to its average volume of 7,021,488. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a twelve month low of $136.03 and a twelve month high of $230.63. The firm has a market capitalization of $174.40 billion, a P/E ratio of 17.46, a PEG ratio of 2.65 and a beta of 1.25. The company's 50-day moving average price is $159.84 and its 200 day moving average price is $170.64.

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

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company's stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares of the company's stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Company 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.