Connor Clark & Lunn Investment Management Ltd. Buys New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 205,081 shares of the wireless technology company's stock, valued at approximately $34,874,000.

Several other institutional investors have also recently bought and sold shares of QCOM. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the 1st quarter worth $1,171,516,000. Massachusetts Financial Services Co. MA lifted its position in QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock worth $641,221,000 after buying an additional 3,047,947 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company's stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp grew its stake in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $229,078,000. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on QCOM shares. Benchmark reiterated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a "hold" rating and a $180.00 price objective for the company. DZ Bank raised shares of QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Finally, KeyCorp downgraded shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average target price of $210.15.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company's stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock worth $2,709,186 in the last three months. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM stock traded down $10.44 during mid-day trading on Wednesday, hitting $154.27. The company had a trading volume of 14,427,646 shares, compared to its average volume of 9,027,193. The company has a market capitalization of $171.39 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.70 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $125.67 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $168.48 and a 200 day moving average price of $182.13.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

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.