Woodmont Investment Counsel LLC Purchases 100 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Woodmont Investment Counsel LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the first quarter, HoldingsChannel reports. The fund owned 6,590 shares of the wireless technology company’s stock after buying an additional 100 shares during the period. Woodmont Investment Counsel LLC’s holdings in QUALCOMM were worth $1,012,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi raised its holdings in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new position in QUALCOMM in the 4th quarter valued at $527,053,000. GAMMA Investing LLC raised its holdings in QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Loop Capital cut their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Bank of America cut their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Citigroup cut their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $190.28.

QUALCOMM Trading Down 1.5%

QCOM opened at $151.32 on Friday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $215.47. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average of $147.54 and a 200-day moving average of $154.97. The stock has a market cap of $166.15 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.35%. QUALCOMM’s payout ratio is currently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company’s stock.

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.