Tritonpoint Wealth LLC Sells 298 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Tritonpoint Wealth LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,406 shares of the wireless technology company’s stock after selling 298 shares during the quarter. Tritonpoint Wealth LLC’s holdings in QUALCOMM were worth $1,138,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM in the fourth quarter valued at about $27,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

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

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. Citigroup lowered their price objective 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. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $172.93 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The company has a fifty day moving average of $160.76 and a 200-day moving average of $166.67. The firm has a market capitalization of $192.13 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s payout ratio is currently 37.82%.

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.