Alberta Investment Management Corp Sells 23,657 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Alberta Investment Management Corp lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,600 shares of the wireless technology company’s stock after selling 23,657 shares during the period. Alberta Investment Management Corp’s holdings in QUALCOMM were worth $6,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudson Value Partners LLC grew its holdings in shares of QUALCOMM by 3.1% during the fourth quarter. Hudson Value Partners LLC now owns 33,419 shares of the wireless technology company’s stock worth $5,134,000 after purchasing an additional 1,017 shares during the last quarter. Atlas Legacy Advisors LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth about $254,000. Bank of Jackson Hole Trust bought a new stake in shares of QUALCOMM during the fourth quarter worth about $87,000. Klingman & Associates LLC lifted its stake in shares of QUALCOMM by 11.4% in the fourth quarter. Klingman & Associates LLC now owns 1,994 shares of the wireless technology company’s stock worth $306,000 after acquiring an additional 204 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of QUALCOMM by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 1,422,293 shares of the wireless technology company’s stock worth $218,493,000 after acquiring an additional 3,739 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,964 shares of company stock valued at $7,583,661 in the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ:QCOM opened at $175.22 on Thursday. The company has a market capitalization of $193.79 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business has a fifty day moving average price of $164.01 and a two-hundred day moving average price of $165.61. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. QUALCOMM’s dividend 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.