QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 163,896 shares of the wireless technology company’s stock after buying an additional 13,335 shares during the quarter. iA Global Asset Management Inc.’s holdings in QUALCOMM were worth $32,645,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. increased its holdings in QUALCOMM by 3.5% in the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after buying an additional 199 shares during the last quarter. Bard Financial Services Inc. raised its position in shares of QUALCOMM by 0.4% during the 4th quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock worth $5,032,000 after acquiring an additional 125 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in QUALCOMM during the fourth quarter worth approximately $296,000. BNP Paribas purchased a new stake in QUALCOMM during the first quarter worth approximately $3,104,000. Finally, SWP Financial LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $593,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QCOM. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Citigroup boosted their target price on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company raised their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Price Performance

QCOM stock traded up $5.81 on Friday, reaching $175.30. 11,109,168 shares of the company’s stock were exchanged, compared to its average volume of 9,294,073. The stock has a fifty day moving average of $184.07 and a 200-day moving average of $180.77. The firm has a market cap of $195.63 billion, a PE ratio of 23.56, a P/E/G ratio of 1.89 and a beta of 1.27. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. QUALCOMM’s payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

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.