Desjardins Global Asset Management Inc. Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Desjardins Global Asset Management Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,333 shares of the wireless technology company’s stock after selling 799 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in QUALCOMM were worth $916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the period. State Street Corp raised its stake in shares of QUALCOMM by 2.5% in the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock worth $6,186,652,000 after buying an additional 1,183,406 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after buying an additional 24,566,978 shares during the period. Morgan Stanley lifted its position in shares of QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after buying an additional 3,929,586 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of QUALCOMM by 7.0% during the 2nd quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after acquiring an additional 1,178,546 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Cantor Fitzgerald boosted their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Piper Sandler boosted their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Susquehanna increased their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.90.

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock worth $7,184,678 over the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 2.5 %

Shares of NASDAQ QCOM opened at $164.32 on Thursday. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The firm has a 50-day simple moving average of $164.47 and a two-hundred day simple moving average of $142.20. The company has a market cap of $183.38 billion, a P/E ratio of 23.81, a PEG ratio of 2.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Research analysts anticipate that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s payout ratio is 46.38%.

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.