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

Capital Investment Counsel Inc reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,335 shares of the wireless technology company's stock after selling 3,548 shares during the period. QUALCOMM makes up about 1.2% of Capital Investment Counsel Inc's investment portfolio, making the stock its 14th biggest position. Capital Investment Counsel Inc's holdings in QUALCOMM were worth $8,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC lifted its position in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company's stock valued at $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC lifted its position in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp lifted its position in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QCOM shares. Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Melius Research 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. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company's stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 4.8 %

QUALCOMM stock traded down $8.27 during mid-day trading on Friday, reaching $165.43. 12,520,589 shares of the company were exchanged, compared to its average volume of 7,784,163. The business has a fifty day moving average of $164.32 and a 200 day moving average of $165.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $182.97 billion, a P/E ratio of 17.67, a PEG ratio of 2.03 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

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.