Lodestone Wealth Management LLC Has $2.26 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Lodestone Wealth Management LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,594 shares of the wireless technology company’s stock after selling 238 shares during the period. QUALCOMM accounts for about 1.3% of Lodestone Wealth Management LLC’s holdings, making the stock its 28th biggest position. Lodestone Wealth Management LLC’s holdings in QUALCOMM were worth $2,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. bought a new position in shares of QUALCOMM in the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. lifted its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Milestone Investment Advisors LLC bought a new stake in QUALCOMM during the first quarter worth $26,000. Pacifica Partners Inc. lifted its holdings in QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after acquiring an additional 150 shares during the period. Finally, Legacy Financial Group LLC bought a new stake in QUALCOMM during the third quarter worth $29,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho raised their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $119.00 to $132.00 in a research report on Friday, December 8th. Canaccord Genuity Group raised their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.71.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,360 shares of company stock valued at $7,323,678. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.77 during midday trading on Friday, hitting $171.53. 5,683,034 shares of the company’s stock were exchanged, compared to its average volume of 7,320,254. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a 50-day moving average price of $160.31 and a two-hundred day moving average price of $138.56. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a market cap of $191.43 billion, a P/E ratio of 24.86, a PEG ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.67 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.