Capital Investment Counsel Inc Sells 479 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Investment Counsel Inc cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the 3rd quarter, Holdings Channel reports. The firm owned 55,883 shares of the wireless technology company’s stock after selling 479 shares during the period. QUALCOMM accounts for about 1.4% of Capital Investment Counsel Inc’s holdings, making the stock its 13th largest position. Capital Investment Counsel Inc’s holdings in QUALCOMM were worth $9,503,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at about $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $32,000. Aspect Partners LLC increased its position in QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $166.60 on Thursday. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market capitalization of $185.93 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The firm has a fifty day simple moving average of $169.30 and a two-hundred day simple moving average of $182.15. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.04%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Robert W. Baird lifted their price target on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,245 shares of company stock valued at $3,679,407. 0.08% of the stock is owned by insiders.

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.