Trust Point Inc. Has $1.12 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Trust Point Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,282 shares of the wireless technology company’s stock after selling 530 shares during the period. Trust Point Inc.’s holdings in QUALCOMM were worth $1,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter valued at $27,000. Planning Capital Management Corp increased its holdings 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 in the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 1.6 %

QCOM opened at $170.24 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a fifty-two week low of $141.21 and a fifty-two week high of $230.63. The firm has a market capitalization of $189.14 billion, a PE ratio of 18.94, a P/E/G ratio of 2.87 and a beta of 1.25. The company’s 50-day moving average is $160.76 and its 200 day moving average is $166.19.

QUALCOMM (NASDAQ:QCOM) last posted 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 firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was 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 owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock valued at $4,000,870 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein raised their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $206.57.

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.