SignalPoint Asset Management LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

SignalPoint Asset Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,607 shares of the wireless technology company’s stock after selling 430 shares during the quarter. SignalPoint Asset Management LLC’s holdings in QUALCOMM were worth $2,090,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of QCOM. Paulson Wealth Management Inc. grew its holdings in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after acquiring an additional 61 shares during the period. Blossom Wealth Management boosted its position in QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 64 shares in the last quarter. Delta Financial Advisors LLC boosted its position in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after purchasing an additional 65 shares in the last quarter. Muirfield Wealth Advisors LLC increased its position in shares of QUALCOMM by 3.1% in the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after buying an additional 66 shares in the last quarter. Finally, Invst LLC raised its stake in shares of QUALCOMM by 2.9% during the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 3.1 %

QCOM stock opened at $164.41 on Thursday. The company has a market cap of $182.66 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $159.38 and a 200-day simple moving average of $169.37. QUALCOMM Incorporated has a 52 week low of $137.35 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. UBS Group lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

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.