QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 204.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 81,618 shares of the wireless technology company’s stock after purchasing an additional 54,821 shares during the quarter. Investment Management Corp of Ontario’s holdings in QUALCOMM were worth $13,879,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its holdings in QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of QUALCOMM by 39.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after buying an additional 50,438 shares during the last quarter. Icon Wealth Advisors LLC lifted its position in shares of QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares during the last quarter. Aljian Capital Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth about $1,820,000. Finally, Captrust Financial Advisors lifted its position in shares of QUALCOMM by 4.6% in the 3rd quarter. Captrust Financial Advisors now owns 664,330 shares of the wireless technology company’s stock worth $112,969,000 after buying an additional 29,287 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.9 %

Shares of QUALCOMM stock opened at $161.60 on Tuesday. The firm has a market capitalization of $179.54 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company’s fifty day moving average price is $166.64 and its two-hundred day moving average price is $180.58. QUALCOMM Incorporated has a 52-week low of $128.03 and a 52-week high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,450 shares of company stock valued at $2,911,306 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on QCOM. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

QUALCOMM 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.