Cidel Asset Management Inc. Buys 266 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cidel Asset Management Inc. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,077 shares of the wireless technology company’s stock after buying an additional 266 shares during the quarter. Cidel Asset Management Inc.’s holdings in QUALCOMM were worth $934,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at about $27,000. Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the third quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’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 $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,981 shares of company stock valued at $4,000,870. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 0.8 %

QCOM stock opened at $167.96 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. The stock has a market capitalization of $185.76 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $146.29 and a fifty-two week high of $230.63. The business has a 50-day moving average of $161.96 and a 200-day moving average of $166.04.

QUALCOMM (NASDAQ:QCOM) last released 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%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s payout ratio is presently 36.32%.

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.