QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,657 shares of the wireless technology company’s stock after selling 1,645 shares during the period. Cornercap Investment Counsel Inc.’s holdings in QUALCOMM were worth $1,472,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,146 shares of company stock worth $2,709,186. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $163.97 on Friday. The firm has a market capitalization of $182.17 billion, a P/E ratio of 18.24, a PEG ratio of 2.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a fifty day moving average of $168.29 and a 200 day moving average of $182.29. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $210.92.

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.