BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 59.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,755 shares of the wireless technology company's stock after purchasing an additional 79,826 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in QUALCOMM were worth $42,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in QUALCOMM by 7.3% in the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company's stock valued at $760,000 after purchasing an additional 356 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in QUALCOMM in the fourth quarter valued at $334,000. Congress Wealth Management LLC DE increased its stake in QUALCOMM by 64.8% in the fourth quarter. Congress Wealth Management LLC DE now owns 10,674 shares of the wireless technology company's stock valued at $1,544,000 after acquiring an additional 4,197 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new position in QUALCOMM in the fourth quarter valued at $495,000. Finally, Parallel Advisors LLC increased its stake in QUALCOMM by 11.9% in the fourth quarter. Parallel Advisors LLC now owns 13,046 shares of the wireless technology company's stock valued at $1,887,000 after acquiring an additional 1,383 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QCOM. Mizuho increased their target price on QUALCOMM from $180.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, May 31st. KeyCorp increased their target price on QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, July 9th. Bank of America raised their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, May 31st. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 3rd. Finally, TD Cowen raised QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.67.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company's stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock valued at $3,496,590. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 0.5 %

NASDAQ:QCOM traded up $0.88 during mid-day trading on Tuesday, hitting $166.84. 5,630,147 shares of the stock traded hands, compared to its average volume of 9,249,741. The stock has a market capitalization of $186.19 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm's 50 day moving average is $171.68 and its two-hundred day moving average is $182.19. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analysts' expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities research analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. QUALCOMM's payout ratio is presently 45.70%.

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.