Intact Investment Management Inc. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Intact Investment Management Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,150 shares of the wireless technology company’s stock after selling 400 shares during the quarter. Intact Investment Management Inc.’s holdings in QUALCOMM were worth $6,385,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. grew its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC purchased a new position in QUALCOMM in the fourth quarter worth $35,000. Cranbrook Wealth Management LLC lifted its stake in shares of QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $29,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $40,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 1.4 %

Shares of QCOM stock traded up $2.36 during trading hours on Friday, hitting $165.66. The company had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. The company’s fifty day moving average is $165.84 and its 200 day moving average is $144.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The stock has a market capitalization of $184.88 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. QUALCOMM’s dividend payout ratio is 46.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on QCOM shares. Benchmark started coverage on shares of QUALCOMM in a research note on Tuesday. They set a “buy” rating and a $200.00 price objective for the company. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Rosenblatt Securities upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

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.