Intact Investment Management Inc. Sells 1,600 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Intact Investment Management Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,700 shares of the wireless technology company's stock after selling 1,600 shares during the period. Intact Investment Management Inc.'s holdings in QUALCOMM were worth $3,948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Amundi lifted its stake in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $527,053,000. Pacer Advisors Inc. lifted its stake in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC lifted its stake in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts recently commented on the stock. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,555 shares of company stock valued at $5,094,134 in the last ninety days. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $4.64 during midday trading on Friday, reaching $156.58. The stock had a trading volume of 5,306,194 shares, compared to its average volume of 8,248,235. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The firm's fifty day simple moving average is $164.68 and its 200-day simple moving average is $164.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $173.18 billion, a P/E ratio of 16.73, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

QUALCOMM Company 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.