AGF Management Ltd. Sells 7,618 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AGF Management Ltd. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 50.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,570 shares of the wireless technology company's stock after selling 7,618 shares during the period. AGF Management Ltd.'s holdings in QUALCOMM were worth $1,163,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $2,058,000. Burney Co. raised its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after acquiring an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $240,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 3.1 %

Shares of NASDAQ QCOM traded up $4.64 during trading on Friday, reaching $156.58. The company had a trading volume of 5,306,194 shares, compared to its average volume of 8,248,235. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The stock has a market cap of $173.18 billion, a PE ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. The business's 50-day moving average is $164.68 and its 200 day moving average is $164.46. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares of the company's stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,555 shares of company stock valued at $5,094,134 over the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Benchmark restated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, November 20th. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Finally, Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

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.