Cornercap Investment Counsel Inc. Sells 381 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,276 shares of the wireless technology company’s stock after selling 381 shares during the period. Cornercap Investment Counsel Inc.’s holdings in QUALCOMM were worth $1,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TBH Global Asset Management LLC grew its stake in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc raised its position in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after acquiring an additional 64 shares in the last quarter. CFS Investment Advisory Services LLC lifted its stake in shares of QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the period. Toth Financial Advisory Corp boosted its position in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its stake in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after purchasing an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QCOM shares. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. The trade was a 5.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $152.72 on Friday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm’s fifty day simple moving average is $164.16 and its two-hundred day simple moving average is $163.82. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.