Cibc World Markets Corp Acquires 206,489 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cibc World Markets Corp lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 900,769 shares of the wireless technology company's stock after buying an additional 206,489 shares during the quarter. QUALCOMM comprises about 0.8% of Cibc World Markets Corp's holdings, making the stock its 23rd biggest holding. Cibc World Markets Corp owned 0.08% of QUALCOMM worth $138,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $29,000. Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $38,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the third quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated 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 approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last ninety days. Insiders own 0.08% of the company's stock.

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QUALCOMM Stock Performance

QCOM stock traded up $1.37 during midday trading on Monday, reaching $157.95. The company had a trading volume of 5,780,967 shares, compared to its average volume of 8,215,244. 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 stock has a 50 day moving average price of $164.64 and a 200 day moving average price of $164.32. The firm has a market capitalization of $174.69 billion, a PE ratio of 16.88, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Finally, Benchmark reissued a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

About QUALCOMM

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.