Salem Investment Counselors Inc. Sells 112 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Salem Investment Counselors Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,770 shares of the wireless technology company’s stock after selling 112 shares during the period. Salem Investment Counselors Inc.’s holdings in QUALCOMM were worth $17,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.4 %

Shares of QCOM stock traded down $0.64 on Monday, hitting $156.34. The company had a trading volume of 2,506,840 shares, compared to its average volume of 6,358,683. The firm has a market cap of $173.69 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.65 and a beta of 1.25. The stock’s 50-day moving average is $159.67 and its two-hundred day moving average is $169.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a twelve month low of $137.35 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QCOM. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $207.11.

QUALCOMM 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.