CIBC Private Wealth Group LLC Has $431.04 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

CIBC Private Wealth Group LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,709,569 shares of the wireless technology company’s stock after selling 52,722 shares during the quarter. QUALCOMM makes up 0.8% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 24th largest position. CIBC Private Wealth Group LLC’s holdings in QUALCOMM were worth $431,038,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QCOM. IPG Investment Advisors LLC raised its stake in shares of QUALCOMM by 82.8% in the fourth quarter. IPG Investment Advisors LLC now owns 56,177 shares of the wireless technology company’s stock worth $8,630,000 after acquiring an additional 25,442 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of QUALCOMM by 1.6% during the fourth quarter. California Public Employees Retirement System now owns 3,505,858 shares of the wireless technology company’s stock valued at $538,570,000 after purchasing an additional 53,573 shares during the last quarter. RWA Wealth Partners LLC increased its holdings in shares of QUALCOMM by 29.7% in the fourth quarter. RWA Wealth Partners LLC now owns 184,259 shares of the wireless technology company’s stock valued at $28,306,000 after purchasing an additional 42,219 shares in the last quarter. Summit Securities Group LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $3,576,000. Finally, Schroder Investment Management Group lifted its holdings in QUALCOMM by 9.5% during the 4th quarter. Schroder Investment Management Group now owns 1,668,206 shares of the wireless technology company’s stock worth $256,270,000 after buying an additional 144,658 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. 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 report on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 3.3 %

NASDAQ:QCOM opened at $152.72 on Friday. The company has a market cap of $168.91 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The business has a 50 day moving average price of $164.16 and a two-hundred day moving average price of $163.84. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its 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 net margin of 25.94% and a return on equity of 39.51%. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.23%. QUALCOMM’s payout ratio is presently 36.32%.

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.