Stone Point Wealth LLC Sells 1,337 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Stone Point Wealth LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,488 shares of the wireless technology company’s stock after selling 1,337 shares during the quarter. QUALCOMM makes up approximately 1.4% of Stone Point Wealth LLC’s portfolio, making the stock its 17th largest position. Stone Point Wealth LLC’s holdings in QUALCOMM were worth $3,686,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc grew its position in QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares during the last quarter. Chilton Capital Management LLC boosted its holdings in shares of QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the last quarter. Means Investment CO. Inc. increased its holdings in shares of QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after purchasing an additional 71 shares in the last quarter. Certified Advisory Corp raised its position in shares of QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after purchasing an additional 79 shares during the last quarter. Finally, Source Financial Advisors LLC raised its holdings in shares of QUALCOMM by 2.2% during the 4th quarter. Source Financial Advisors LLC now owns 3,903 shares of the wireless technology company’s stock worth $564,000 after acquiring an additional 85 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 1.1 %

NASDAQ:QCOM traded up $1.95 during trading hours on Tuesday, hitting $175.57. The company’s stock had a trading volume of 5,020,842 shares, compared to its average volume of 8,753,507. The stock has a fifty day moving average of $160.79 and a 200-day moving average of $139.43. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $195.94 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,360 shares of company stock valued at $7,323,678. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Mizuho lifted their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Cantor Fitzgerald increased their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity Group upped their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.81.

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.