Main Street Financial Solutions LLC Sells 1,950 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Main Street Financial Solutions LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 34.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,661 shares of the wireless technology company's stock after selling 1,950 shares during the period. Main Street Financial Solutions LLC's holdings in QUALCOMM were worth $562,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in QCOM. Te Ahumairangi Investment Management Ltd raised its stake in QUALCOMM by 60.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock valued at $6,349,000 after purchasing an additional 14,213 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of QUALCOMM by 2.2% in the 3rd quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock valued at $5,901,000 after acquiring an additional 747 shares during the period. World Investment Advisors LLC raised its holdings in shares of QUALCOMM by 304.0% in the 3rd quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock valued at $7,680,000 after buying an additional 33,985 shares during the period. Wilmington Savings Fund Society FSB grew its position in QUALCOMM by 620.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock valued at $9,466,000 after acquiring an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC increased its stake in QUALCOMM by 4.1% during the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock worth $2,309,000 after buying an additional 531 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $201.21.

QUALCOMM Stock Up 0.6 %

NASDAQ:QCOM traded up $0.80 during trading hours on Friday, reaching $136.54. The company had a trading volume of 7,093,008 shares, compared to its average volume of 8,883,461. The firm has a market cap of $151.01 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28. The business's 50-day simple moving average is $153.10 and its two-hundred day simple moving average is $160.40. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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.