Counterweight Ventures LLC Sells 210 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Counterweight Ventures LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,888 shares of the wireless technology company’s stock after selling 210 shares during the quarter. Counterweight Ventures LLC’s holdings in QUALCOMM were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of QCOM. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter valued at $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $30,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on QCOM shares. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company decreased their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $186.00.

QUALCOMM Stock Up 1.4%

QCOM stock opened at $154.80 on Friday. 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 firm has a market capitalization of $169.97 billion, a PE ratio of 15.76, a PEG ratio of 2.00 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $196.24. The stock has a 50-day simple moving average of $153.95 and a two-hundred day simple moving average of $154.98.

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

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM’s payout ratio is 36.25%.

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.