Cornercap Investment Counsel Inc. Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornercap Investment Counsel Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the fourth quarter, HoldingsChannel reports. The institutional investor 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.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Nordea Investment Management AB grew its position in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $2,058,000. Burney Co. boosted its position in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $240,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI lowered their price objective 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. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 3.3 %

Shares of 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 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 cap of $168.91 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a fifty day simple moving average of $164.16 and a 200 day simple moving average of $163.82.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 in the last three months. 0.08% of the stock is owned by insiders.

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.