iA Global Asset Management Inc. Buys 6,117 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

iA Global Asset Management Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 170,013 shares of the wireless technology company's stock after purchasing an additional 6,117 shares during the period. iA Global Asset Management Inc.'s holdings in QUALCOMM were worth $28,911,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter valued at $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Aspect Partners LLC boosted its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock worth $35,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,450 shares of company stock worth $3,395,926 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Down 0.5 %

NASDAQ QCOM traded down $0.88 during trading hours on Friday, reaching $159.51. The company had a trading volume of 9,915,824 shares, compared to its average volume of 8,740,207. The stock has a market capitalization of $177.22 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 1-year low of $130.39 and a 1-year high of $230.63. The stock has a 50-day moving average of $165.93 and a 200 day moving average of $179.48.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, December 5th. QUALCOMM's dividend payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a "hold" rating and a $180.00 price target on the stock. Finally, KeyCorp lowered QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average price target of $210.15.

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.