Pines Wealth Management LLC Invests $1.39 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Pines Wealth Management LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,865 shares of the wireless technology company's stock, valued at approximately $1,392,000.

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

Insider Activity at QUALCOMM

In related 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 value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company's stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $4.88 during trading hours on Wednesday, hitting $164.41. 9,243,669 shares of the company's stock were exchanged, compared to its average volume of 6,674,250. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63. The stock has a market cap of $182.66 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. 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 stock's 50-day moving average is $159.38 and its 200-day moving average is $169.37.

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

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Sanford C. Bernstein raised their price target on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a research report on Wednesday, October 16th. KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $207.11.

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.