Phoenix Financial Ltd. Sells 8,993 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Phoenix Financial Ltd. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,457 shares of the wireless technology company's stock after selling 8,993 shares during the quarter. Phoenix Financial Ltd.'s holdings in QUALCOMM were worth $5,601,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC raised its holdings in QUALCOMM by 15.5% during the third quarter. Continuum Advisory LLC now owns 3,342 shares of the wireless technology company's stock valued at $548,000 after buying an additional 448 shares in the last quarter. Brophy Wealth Management LLC acquired a new position in QUALCOMM during the third quarter valued at approximately $431,000. TD Private Client Wealth LLC raised its position in shares of QUALCOMM by 1.0% in the third quarter. TD Private Client Wealth LLC now owns 9,884 shares of the wireless technology company's stock valued at $1,681,000 after purchasing an additional 100 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of QUALCOMM by 6.9% in the third quarter. Rehmann Capital Advisory Group now owns 10,249 shares of the wireless technology company's stock worth $1,744,000 after buying an additional 664 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of QUALCOMM by 1,924.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 33,410 shares of the wireless technology company's stock worth $5,681,000 after buying an additional 31,760 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

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QUALCOMM Price Performance

QCOM stock traded down $1.52 during mid-day trading on Monday, hitting $137.73. The company had a trading volume of 2,593,175 shares, compared to its average volume of 8,857,344. The company has a market capitalization of $152.33 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a 50-day moving average price of $156.49 and a 200 day moving average price of $161.38. 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 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 over the last 90 days. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QCOM shares. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Benchmark restated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $201.21.

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.