QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,150 shares of the wireless technology company’s stock after selling 400 shares during the period. Intact Investment Management Inc.’s holdings in QUALCOMM were worth $6,385,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Legacy Financial Group LLC bought a new stake in QUALCOMM during the third quarter valued at $29,000. Fortitude Family Office LLC bought a new stake in QUALCOMM during the fourth quarter valued at $35,000. Cranbrook Wealth Management LLC increased its stake in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

NASDAQ QCOM traded up $2.36 on Friday, reaching $165.66. The company’s stock had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a market cap of $184.88 billion, a PE ratio of 24.01, a PEG ratio of 2.24 and a beta of 1.41. The firm’s 50 day moving average is $165.84 and its two-hundred day moving average is $144.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last three months, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on QCOM shares. Barclays boosted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Mizuho upped their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.86.

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.