Woodmont Investment Counsel LLC Sells 199 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Woodmont Investment Counsel LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,490 shares of the wireless technology company’s stock after selling 199 shares during the period. Woodmont Investment Counsel LLC’s holdings in QUALCOMM were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at $29,000. Synergy Asset Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $38,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.1 %

QCOM opened at $160.08 on Tuesday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company’s 50-day moving average price is $164.57 and its two-hundred day moving average price is $163.95. The stock has a market cap of $177.05 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QCOM shares. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.