QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 204.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,618 shares of the wireless technology company's stock after buying an additional 54,821 shares during the quarter. Investment Management Corp of Ontario's holdings in QUALCOMM were worth $13,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in QUALCOMM in the 3rd quarter worth about $75,000. Harmony Asset Management LLC boosted its holdings in shares of QUALCOMM by 49.5% in the third quarter. Harmony Asset Management LLC now owns 1,902 shares of the wireless technology company's stock valued at $323,000 after purchasing an additional 630 shares during the period. Heard Capital LLC grew its stake in QUALCOMM by 12.2% in the third quarter. Heard Capital LLC now owns 14,480 shares of the wireless technology company's stock worth $2,462,000 after purchasing an additional 1,580 shares in the last quarter. HighTower Advisors LLC increased its holdings in QUALCOMM by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 1,299,006 shares of the wireless technology company's stock worth $221,391,000 after purchasing an additional 91,354 shares during the period. Finally, Hilltop Holdings Inc. raised its position in QUALCOMM by 31.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,349 shares of the wireless technology company's stock valued at $1,250,000 after purchasing an additional 1,758 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction dated 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 sale, the chief technology officer now directly owns 213,364 shares of the company's stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock worth $2,911,306 in the last quarter. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. TD Cowen upgraded QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and an average price target of $210.15.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $0.45 during trading hours on Tuesday, reaching $162.58. The stock had a trading volume of 6,957,283 shares, compared to its average volume of 8,993,425. QUALCOMM Incorporated has a twelve month low of $128.03 and a twelve month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $180.63 billion, a PE ratio of 18.08, a PEG ratio of 2.74 and a beta of 1.25. The stock's 50 day moving average is $166.49 and its 200 day moving average is $180.15.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM's payout ratio is 37.82%.

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.