Alberta Investment Management Corp lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,600 shares of the wireless technology company's stock after selling 23,657 shares during the quarter. Alberta Investment Management Corp's holdings in QUALCOMM were worth $6,544,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised its stake in shares of QUALCOMM by 28.6% in the 3rd quarter. Foundations Investment Advisors LLC now owns 13,582 shares of the wireless technology company's stock valued at $2,310,000 after acquiring an additional 3,023 shares in the last quarter. Eastern Bank raised its stake in shares of QUALCOMM by 769.3% in the 3rd quarter. Eastern Bank now owns 9,667 shares of the wireless technology company's stock valued at $1,644,000 after acquiring an additional 8,555 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $36,000. Stanley Laman Group Ltd. raised its stake in shares of QUALCOMM by 9.9% in the 3rd quarter. Stanley Laman Group Ltd. now owns 29,740 shares of the wireless technology company's stock valued at $5,057,000 after acquiring an additional 2,681 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of QUALCOMM by 11.4% in the 3rd quarter. Private Advisor Group LLC now owns 89,715 shares of the wireless technology company's stock valued at $15,256,000 after acquiring an additional 9,185 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Trading Down 4.4 %
Shares of QCOM stock traded down $7.70 on Friday, reaching $166.00. 6,913,068 shares of the stock were exchanged, compared to its average volume of 7,611,784. The stock has a 50 day moving average price of $164.32 and a 200 day moving average price of $165.67. The stock has a market cap of $183.59 billion, a PE ratio of 17.71, a P/E/G ratio of 2.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
QUALCOMM Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. QUALCOMM's dividend payout ratio is presently 36.32%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on QCOM. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. Finally, Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.
View Our Latest Report on QCOM
Insider Activity at QUALCOMM
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,964 shares of company stock worth $7,583,661. 0.08% of the stock is owned by insiders.
About QUALCOMM
(
Free Report)
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.
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