Cibc World Market Inc. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cibc World Market Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 400,534 shares of the wireless technology company’s stock after selling 18,994 shares during the quarter. Cibc World Market Inc.’s holdings in QUALCOMM were worth $61,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hixon Zuercher LLC increased its position in shares of QUALCOMM by 4.4% during the fourth quarter. Hixon Zuercher LLC now owns 7,363 shares of the wireless technology company’s stock valued at $1,131,000 after acquiring an additional 310 shares during the last quarter. Koa Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth $384,000. Mediolanum International Funds Ltd boosted its holdings in shares of QUALCOMM by 34.4% in the fourth quarter. Mediolanum International Funds Ltd now owns 259,283 shares of the wireless technology company’s stock worth $39,982,000 after acquiring an additional 66,340 shares during the period. SOL Capital Management CO boosted its stake in QUALCOMM by 17.9% during the fourth quarter. SOL Capital Management CO now owns 14,330 shares of the wireless technology company’s stock valued at $2,201,000 after buying an additional 2,175 shares during the period. Finally, Crews Bank & Trust bought a new stake in QUALCOMM during the fourth quarter valued at $2,264,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. UBS Group lifted their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $171.93 on Friday. The business has a 50 day simple moving average of $160.11 and a 200 day simple moving average of $166.88. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market cap of $191.01 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.