Beutel Goodman & Co Ltd. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Beutel Goodman & Co Ltd. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,441,570 shares of the wireless technology company's stock after purchasing an additional 381,380 shares during the period. QUALCOMM makes up approximately 2.0% of Beutel Goodman & Co Ltd.'s holdings, making the stock its 16th largest holding. Beutel Goodman & Co Ltd. owned approximately 0.22% of QUALCOMM worth $375,074,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $38,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 0.7 %

Shares of NASDAQ QCOM traded up $1.02 during midday trading on Monday, hitting $153.74. The stock had a trading volume of 3,874,741 shares, compared to its average volume of 8,589,945. The business's 50 day moving average is $164.16 and its 200-day moving average is $163.82. QUALCOMM Incorporated has a 52 week low of $147.99 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $170.03 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Analyst Ratings Changes

Several analysts have weighed in on QCOM shares. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $205.32.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by insiders.

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.