Geneos Wealth Management Inc. Sells 126 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Geneos Wealth Management Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,618 shares of the wireless technology company’s stock after selling 126 shares during the period. Geneos Wealth Management Inc.’s holdings in QUALCOMM were worth $1,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the second quarter worth approximately $30,000. Planning Capital Management Corp lifted its holdings in shares of QUALCOMM by 137.3% in the 3rd 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 during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

QCOM opened at $172.11 on Monday. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The stock has a 50-day moving average price of $159.49 and a 200-day moving average price of $167.56. The firm has a market cap of $191.21 billion, a PE ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25. 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 (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 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One research 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.57.

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.