EdgePoint Investment Group Inc. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

EdgePoint Investment Group Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,061,018 shares of the wireless technology company's stock after selling 65,219 shares during the quarter. QUALCOMM comprises 2.8% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 17th biggest position. EdgePoint Investment Group Inc. owned about 0.19% of QUALCOMM worth $350,476,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of QCOM. Massachusetts Financial Services Co. MA grew its position in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock valued at $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after buying an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC increased its stake 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 worth $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after acquiring an additional 1,380,500 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QCOM shares. Morgan Stanley cut 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. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. Wolfe Research lowered QUALCOMM from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 12th. Benchmark restated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, KeyCorp cut QUALCOMM from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $210.15.

QUALCOMM Stock Down 0.5 %

NASDAQ QCOM traded down $0.88 on Friday, hitting $159.51. 9,915,824 shares of the stock were exchanged, compared to its average volume of 8,740,207. QUALCOMM Incorporated has a fifty-two week low of $130.39 and a fifty-two week high of $230.63. The company has a 50-day moving average price of $165.93 and a 200-day moving average price of $179.48. 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 market cap of $177.22 billion, a PE ratio of 17.74, a PEG ratio of 2.73 and a beta of 1.25.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is 37.82%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company's stock, valued at $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,450 shares of company stock valued at $3,395,926. 0.08% of the stock is currently owned by corporate insiders.

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.