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

SignalPoint Asset Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,607 shares of the wireless technology company’s stock after selling 430 shares during the period. SignalPoint Asset Management LLC’s holdings in QUALCOMM were worth $2,090,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new position in QUALCOMM during the 2nd quarter valued at about $30,000. Planning Capital Management Corp increased its position in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new position in QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. UBS Group raised their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.11.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $164.41 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12 month low of $137.35 and a 12 month high of $230.63. The company has a 50 day simple moving average of $159.38 and a two-hundred day simple moving average of $169.37. The stock 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.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.