Ridgewood Investments LLC Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ridgewood Investments LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,858 shares of the wireless technology company's stock after acquiring an additional 3,917 shares during the period. QUALCOMM makes up 1.0% of Ridgewood Investments LLC's portfolio, making the stock its 16th largest holding. Ridgewood Investments LLC's holdings in QUALCOMM were worth $1,975,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter worth about $30,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during 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 period. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the 3rd quarter worth about $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were 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 owns 33,383 shares of the company's stock, valued at $5,360,975.97. This trade represents a 23.71 % 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 over the last three months. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on QCOM shares. Morgan Stanley dropped their price target 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. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Finally, Evercore ISI boosted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.11.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $2.10 during trading hours on Friday, reaching $156.98. 6,235,833 shares of the company were exchanged, compared to its average volume of 7,021,488. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average is $159.84 and its 200-day moving average is $170.64. The firm has a market cap of $174.40 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $136.03 and a twelve month high of $230.63.

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