QUALCOMM Incorporated (NASDAQ:QCOM) Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 385,293 shares of the wireless technology company’s stock after purchasing an additional 28,059 shares during the period. CIBC Asset Management Inc’s holdings in QUALCOMM were worth $65,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC raised its holdings in shares of QUALCOMM by 17.1% during 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 last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position 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 acquiring an additional 50,438 shares during the period. Czech National Bank raised its stake in QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after acquiring an additional 13,888 shares in the last quarter. Legal & General Group Plc boosted its position in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. Finally, Heritage Wealth Management Inc. bought a new position in shares of QUALCOMM in the second quarter worth $1,539,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on QCOM. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $210.92.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % 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, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $163.97 on Friday. QUALCOMM Incorporated has a fifty-two week low of $125.67 and a fifty-two week high of $230.63. The stock’s 50-day moving average is $168.29 and its two-hundred day moving average is $182.29. The firm has a market cap of $182.17 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.