TD Waterhouse Canada Inc. Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

TD Waterhouse Canada Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,127 shares of the wireless technology company's stock after purchasing an additional 10,713 shares during the period. TD Waterhouse Canada Inc.'s holdings in QUALCOMM were worth $51,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the fourth quarter worth approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.77 during trading on Wednesday, reaching $140.51. The company's stock had a trading volume of 9,068,006 shares, compared to its average volume of 8,884,202. The business has a 50 day moving average price of $151.75 and a 200-day moving average price of $159.90. The company has a market capitalization of $155.40 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.53%. QUALCOMM's payout ratio is 36.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QCOM. Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Benchmark reiterated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $201.21.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 in the last quarter. Company insiders own 0.08% of the company's stock.

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.