Sanibel Captiva Trust Company Inc. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sanibel Captiva Trust Company Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,843 shares of the wireless technology company’s stock after selling 1,245 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in QUALCOMM were worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. HWG Holdings LP acquired a new position in QUALCOMM during the second quarter worth $30,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. Financial Connections Group Inc. acquired a new position in QUALCOMM during the second quarter worth $32,000. Aspect Partners LLC lifted its stake in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, McClarren Financial Advisors Inc. lifted its stake in QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock worth $40,000 after purchasing an additional 60 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock worth $3,679,407 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $168.52 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The business’s 50-day moving average price is $167.54 and its 200 day moving average price is $182.06. The firm has a market cap of $187.73 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Robert W. Baird upped their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reduced their price objective on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $209.38.

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.