Investment Management Corp of Ontario Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Investment Management Corp of Ontario raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 204.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,618 shares of the wireless technology company’s stock after acquiring an additional 54,821 shares during the period. Investment Management Corp of Ontario’s holdings in QUALCOMM were worth $13,879,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.15.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,450 shares of company stock worth $2,911,306. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QCOM stock opened at $161.60 on Tuesday. 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’s 50 day moving average price is $166.64 and its 200 day moving average price is $180.58. The firm has a market cap of $179.54 billion, a P/E ratio of 18.13, a PEG ratio of 2.67 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $128.03 and a 1 year high of $230.63.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 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.