CIBC Private Wealth Group LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CIBC Private Wealth Group LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,709,569 shares of the wireless technology company's stock after selling 52,722 shares during the period. QUALCOMM makes up about 0.8% of CIBC Private Wealth Group LLC's portfolio, making the stock its 24th biggest position. CIBC Private Wealth Group LLC owned about 0.24% of QUALCOMM worth $431,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of QCOM. CreativeOne Wealth LLC raised its position in QUALCOMM by 36.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,714 shares of the wireless technology company's stock worth $1,312,000 after purchasing an additional 2,056 shares during the period. Public Sector Pension Investment Board grew its stake in shares of QUALCOMM by 11.8% during the third quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company's stock valued at $8,210,000 after buying an additional 5,100 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of QUALCOMM by 7.0% in the third quarter. Fred Alger Management LLC now owns 59,883 shares of the wireless technology company's stock worth $10,183,000 after buying an additional 3,911 shares during the period. PDT Partners LLC lifted its stake in shares of QUALCOMM by 1,223.1% during the 3rd quarter. PDT Partners LLC now owns 17,200 shares of the wireless technology company's stock worth $2,925,000 after acquiring an additional 15,900 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in QUALCOMM by 78.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,584,292 shares of the wireless technology company's stock valued at $269,409,000 after acquiring an additional 696,872 shares during the period. Institutional investors own 74.35% of the company's stock.

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Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

QCOM stock traded up $1.35 during trading on Wednesday, reaching $154.40. The company had a trading volume of 1,993,329 shares, compared to its average volume of 8,575,919. The company has a market cap of $170.77 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $147.88 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a 50-day simple moving average of $163.66 and a 200-day simple moving average of $163.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QCOM shares. Benchmark reiterated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Finally, Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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.