Woodmont Investment Counsel LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,760 shares of the wireless technology company’s stock after selling 21,355 shares during the period. Woodmont Investment Counsel LLC’s holdings in QUALCOMM were worth $1,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC lifted its stake in QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after acquiring an additional 250 shares during the period. Alpha Windward LLC lifted its stake in QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after acquiring an additional 153 shares during the period. Penserra Capital Management LLC lifted its stake in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the period. FNY Partners Fund LP lifted its stake in QUALCOMM by 102.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock valued at $171,000 after acquiring an additional 1,565 shares during the period. Finally, American National Bank lifted its stake in QUALCOMM by 28.7% during the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after acquiring an additional 812 shares during the period. Institutional investors own 75.90% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.dailypolitical.com/2017/11/22/qualcomm-incorporated-qcom-position-reduced-by-woodmont-investment-counsel-llc.html.

Several analysts have commented on the stock. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Royal Bank Of Canada lifted their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Canaccord Genuity lifted their price objective on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective for the company in a research note on Monday, November 13th. Finally, UBS AG upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $65.42.

In other news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold 28,937 shares of company stock worth $1,787,969 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

QUALCOMM Incorporated (QCOM) opened at $66.67 on Wednesday. QUALCOMM Incorporated has a 1 year low of $48.92 and a 1 year high of $70.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. The company has a market cap of $97,987.75, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities research analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.42%. QUALCOMM’s payout ratio is currently 138.18%.

QUALCOMM Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.