QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 394,029 shares of the wireless technology company's stock after buying an additional 8,736 shares during the period. CIBC Asset Management Inc's holdings in QUALCOMM were worth $60,531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth about $27,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% during the third 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 period. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the third quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.9 %

Shares of QCOM traded down $1.52 during mid-day trading on Thursday, reaching $173.70. The company had a trading volume of 6,309,748 shares, compared to its average volume of 7,640,596. The stock has a market cap of $192.11 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The firm has a fifty day simple moving average of $164.01 and a 200-day simple moving average of $165.61. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, 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. In the last 90 days, insiders have sold 45,964 shares of company stock worth $7,583,661. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Finally, Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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.