Cibc World Markets Corp Buys 206,489 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cibc World Markets Corp boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 900,769 shares of the wireless technology company’s stock after purchasing an additional 206,489 shares during the period. QUALCOMM makes up approximately 0.8% of Cibc World Markets Corp’s holdings, making the stock its 23rd largest position. Cibc World Markets Corp’s holdings in QUALCOMM were worth $138,376,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Arbor Capital Management Inc. ADV grew its position in QUALCOMM by 16.4% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 15,114 shares of the wireless technology company’s stock worth $2,322,000 after purchasing an additional 2,128 shares during the period. GLOBALT Investments LLC GA lifted its position in QUALCOMM by 6.4% during the fourth quarter. GLOBALT Investments LLC GA now owns 1,486 shares of the wireless technology company’s stock valued at $228,000 after purchasing an additional 90 shares in the last quarter. IMG Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter valued at about $205,000. SlateStone Wealth LLC raised its stake in shares of QUALCOMM by 3.5% in the fourth quarter. SlateStone Wealth LLC now owns 3,597 shares of the wireless technology company’s stock worth $553,000 after buying an additional 120 shares during the period. Finally, First National Advisers LLC lifted its position in shares of QUALCOMM by 3.2% during the 4th quarter. First National Advisers LLC now owns 37,207 shares of the wireless technology company’s stock valued at $5,716,000 after buying an additional 1,151 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 3.1 %

Shares of QCOM opened at $156.58 on Monday. The firm has a market cap of $173.18 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company’s 50-day moving average price is $164.68 and its 200 day moving average price is $164.40. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value 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 $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. 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. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Company 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.