Northwest & Ethical Investments L.P. Buys 70,926 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Northwest & Ethical Investments L.P. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 304.7% in the third quarter, HoldingsChannel.com reports. The fund owned 94,201 shares of the wireless technology company’s stock after purchasing an additional 70,926 shares during the period. Northwest & Ethical Investments L.P.’s holdings in QUALCOMM were worth $16,019,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. increased its position in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the period. International Assets Investment Management LLC raised its stake in QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after buying an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the period. Finally, Maj Invest Holding A S purchased a new stake in QUALCOMM in the third quarter worth about $229,078,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QCOM shares. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Trading Down 0.3 %

QCOM stock traded down $0.53 during trading on Thursday, hitting $156.40. The company had a trading volume of 6,333,417 shares, compared to its average volume of 9,011,226. The firm has a market capitalization of $173.76 billion, a P/E ratio of 17.40, a PEG ratio of 2.67 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a 50 day simple moving average of $167.20 and a 200-day simple moving average of $181.09.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the transaction, the chief financial officer now directly owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,450 shares of company stock worth $2,911,306. Company insiders own 0.08% of the company’s stock.

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.