QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Cut by Benson Investment Management Company Inc.


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Benson Investment Management Company Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 32,274 shares of the wireless technology company’s stock after selling 1,971 shares during the period. QUALCOMM accounts for about 3.0% of Benson Investment Management Company Inc.’s portfolio, making the stock its 9th largest position. Benson Investment Management Company Inc.’s holdings in QUALCOMM were worth $4,917,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of QCOM. Center for Financial Planning Inc. grew its position in shares of QUALCOMM by 82.5% during the 3rd quarter. Center for Financial Planning Inc. now owns 365 shares of the wireless technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the period. Cordasco Financial Network grew its holdings in QUALCOMM by 96.4% in the third quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock valued at $44,000 after purchasing an additional 185 shares during the period. Hudock Inc. increased its position in shares of QUALCOMM by 31.4% in the third quarter. Hudock Inc. now owns 381 shares of the wireless technology company’s stock valued at $44,000 after buying an additional 91 shares in the last quarter. Bedel Financial Consulting Inc. raised its stake in shares of QUALCOMM by 50.6% during the 3rd quarter. Bedel Financial Consulting Inc. now owns 384 shares of the wireless technology company’s stock worth $45,000 after buying an additional 129 shares during the period. Finally, Horan Securities Inc. raised its stake in shares of QUALCOMM by 112.8% during the 3rd quarter. Horan Securities Inc. now owns 432 shares of the wireless technology company’s stock worth $51,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 74.79% of the company’s stock.

In other QUALCOMM news, CAO Erin L. Polek sold 3,455 shares of the company’s stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $142.48, for a total transaction of $492,268.40. Following the transaction, the chief accounting officer now directly owns 2,738 shares in the company, valued at $390,110.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alexander H. Rogers sold 5,526 shares of the firm’s stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $142.48, for a total value of $787,344.48. Following the transaction, the executive vice president now owns 29,779 shares of the company’s stock, valued at $4,242,911.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,909 shares of company stock valued at $20,502,275. 0.12% of the stock is currently owned by insiders.

QCOM stock traded up $2.85 during midday trading on Wednesday, hitting $157.30. 282,017 shares of the company’s stock were exchanged, compared to its average volume of 7,109,344. The business has a 50-day simple moving average of $150.19 and a two-hundred day simple moving average of $123.73. The company has a current ratio of 1.97, a quick ratio of 1.67 and a debt-to-equity ratio of 4.67. The stock has a market capitalization of $177.91 billion, a PE ratio of 66.53, a P/E/G ratio of 0.89 and a beta of 1.34. QUALCOMM Incorporated has a 1-year low of $58.00 and a 1-year high of $161.07.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.28. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $5.94 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The company’s revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. As a group, research analysts expect that QUALCOMM Incorporated will post 3.2 EPS for the current fiscal year.

Several equities research analysts recently commented on QCOM shares. Rosenblatt Securities boosted their price target on shares of QUALCOMM from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. BidaskClub downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 23rd. Oppenheimer reiterated a “hold” rating on shares of QUALCOMM in a report on Thursday, November 5th. Sanford C. Bernstein reissued a “buy” rating and set a $165.00 target price on shares of QUALCOMM in a report on Thursday, November 5th. Finally, Wells Fargo & Company upgraded QUALCOMM to an “equal weight” rating and raised their target price for the company from $120.00 to $145.00 in a research report on Thursday, November 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Buy” and an average price target of $146.85.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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