Cornercap Investment Counsel Inc. Sells 1,645 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

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

Other institutional investors have also bought and sold shares of the company. Leelyn Smith LLC bought a new position in QUALCOMM during the first quarter valued at $208,000. Cumberland Partners Ltd purchased a new position in shares of QUALCOMM during the 1st quarter worth about $1,100,000. M&G Plc bought a new position in QUALCOMM during the 1st quarter valued at about $129,388,000. Pinkerton Retirement Specialists LLC raised its position in QUALCOMM by 17.5% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 23,777 shares of the wireless technology company’s stock worth $4,025,000 after purchasing an additional 3,546 shares during the period. Finally, AI Squared Management Ltd bought a new stake in QUALCOMM in the first quarter worth about $2,793,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.2 %

Shares of NASDAQ:QCOM opened at $163.97 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The stock has a market cap of $182.17 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.70 and a beta of 1.28. The business has a 50-day moving average price of $168.29 and a 200-day moving average price of $182.29.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock worth $2,709,186 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QCOM. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Susquehanna decreased their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Rosenblatt Securities upped their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

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.