QUALCOMM Incorporated (NASDAQ:QCOM) Position Trimmed by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,156 shares of the wireless technology company’s stock after selling 307 shares during the period. SignalPoint Asset Management LLC’s holdings in QUALCOMM were worth $1,804,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Milestone Investment Advisors LLC bought a new position in shares of QUALCOMM during the first quarter worth about $26,000. Ruedi Wealth Management Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group grew its position in shares of QUALCOMM by 53.9% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 257 shares of the wireless technology company’s stock worth $28,000 after acquiring an additional 90 shares during the last quarter. TD Capital Management LLC grew its position in shares of QUALCOMM by 118.8% during the first quarter. TD Capital Management LLC now owns 221 shares of the wireless technology company’s stock worth $28,000 after acquiring an additional 120 shares during the last quarter. Finally, Pacific Center for Financial Services bought a new position in shares of QUALCOMM during the first quarter worth about $31,000. Institutional investors own 71.10% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Monday, September 11th. The stock was sold at an average price of $111.27, for a total transaction of $111,270.00. Following the completion of the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at $639,246.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 27,962 shares of QUALCOMM stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the completion of the transaction, the chief technology officer now directly owns 241,369 shares of the company’s stock, valued at $27,330,211.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Monday, September 11th. The shares were sold at an average price of $111.27, for a total value of $111,270.00. Following the transaction, the insider now directly owns 5,745 shares of the company’s stock, valued at $639,246.15. The disclosure for this sale can be found here. Insiders sold a total of 29,962 shares of company stock valued at $3,391,567 over the last ninety days. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of QUALCOMM from $125.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, September 12th. Bank of America upped their price objective on shares of QUALCOMM from $130.00 to $145.00 in a research note on Friday, June 16th. Mizuho reaffirmed a “buy” rating and set a $140.00 price objective on shares of QUALCOMM in a research note on Wednesday, August 23rd. Finally, Piper Sandler upped their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.96.

QUALCOMM Stock Performance

QCOM stock traded down $2.08 during midday trading on Tuesday, hitting $110.67. The stock had a trading volume of 1,337,346 shares, compared to its average volume of 8,108,800. The firm has a market capitalization of $121.74 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.10 and a beta of 1.23. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $139.94. The stock has a 50-day simple moving average of $117.12 and a 200 day simple moving average of $116.90. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, August 2nd. The wireless technology company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.35 by $0.05. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 6.41 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.20 annualized dividend and a yield of 2.89%. QUALCOMM’s dividend payout ratio (DPR) is currently 41.88%.

About QUALCOMM

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, application processing, multimedia, and global positioning system products.