Cibc World Market Inc. Sells 18,994 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cibc World Market Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,534 shares of the wireless technology company's stock after selling 18,994 shares during the period. Cibc World Market Inc.'s holdings in QUALCOMM were worth $61,530,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Hixon Zuercher LLC boosted its holdings in QUALCOMM by 4.4% during the fourth quarter. Hixon Zuercher LLC now owns 7,363 shares of the wireless technology company's stock worth $1,131,000 after buying an additional 310 shares during the last quarter. Koa Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $384,000. Mediolanum International Funds Ltd grew its holdings in QUALCOMM by 34.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 259,283 shares of the wireless technology company's stock valued at $39,982,000 after purchasing an additional 66,340 shares during the period. SOL Capital Management CO increased its stake in QUALCOMM by 17.9% in the fourth quarter. SOL Capital Management CO now owns 14,330 shares of the wireless technology company's stock valued at $2,201,000 after purchasing an additional 2,175 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in QUALCOMM in the fourth quarter worth $2,264,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on QCOM shares. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 target price on the stock. Finally, UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $206.57.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $2.69 during mid-day trading on Monday, reaching $170.24. 7,418,854 shares of the company were exchanged, compared to its average volume of 7,483,622. QUALCOMM Incorporated has a twelve month low of $141.21 and a twelve month high of $230.63. The stock has a market capitalization of $189.14 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.87 and a beta of 1.25. The company's 50-day simple moving average is $160.76 and its 200-day simple moving average is $166.19. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 37.82%.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the transaction, the general counsel now directly owns 17,153 shares of the company's stock, valued at $2,754,600.27. The trade was a 31.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is owned by company 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.