Stone Point Wealth LLC Has $4.16 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stone Point Wealth LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,446 shares of the wireless technology company’s stock after selling 106 shares during the quarter. QUALCOMM comprises 1.3% of Stone Point Wealth LLC’s holdings, making the stock its 23rd biggest position. Stone Point Wealth LLC’s holdings in QUALCOMM were worth $4,157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pine Haven Investment Counsel Inc raised its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares in the last quarter. Buffington Mohr McNeal raised its holdings in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after buying an additional 53 shares in the last quarter. TRUE Private Wealth Advisors raised its holdings in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after buying an additional 57 shares in the last quarter. Macroview Investment Management LLC raised its holdings in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 57 shares in the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of QUALCOMM by 43.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several recent research reports. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eleven 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Trading Down 0.7 %

QCOM stock opened at $171.65 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a 12 month low of $119.85 and a 12 month high of $230.63. The firm’s 50-day moving average is $168.55 and its 200 day moving average is $182.14. The company has a market capitalization of $191.22 billion, a PE ratio of 22.40, a P/E/G ratio of 1.66 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 0.00 % 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, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,146 shares of company stock worth $2,709,186. Corporate insiders own 0.08% of the company’s stock.

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, computing, multimedia, and position location products.