Northwest & Ethical Investments L.P. Has $9.35 Million Stock Position in QUALCOMM Incorporated $QCOM

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in QUALCOMM by 33%, now holding 60,866 shares valued at approximately $9.35 million.
• A number of institutional investors, including Steward Partners and Cresset Asset Management, have increased their positions in QUALCOMM, contributing to a total of 74.35% institutional ownership of the company's stock.
• QUALCOMM has declared a quarterly dividend of $0.89 per share to be paid on September 25th, representing an annual yield of 2.3%.

Northwest & Ethical Investments L.P. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,866 shares of the wireless technology company's stock after selling 29,944 shares during the period. Northwest & Ethical Investments L.P.'s holdings in QUALCOMM were worth $9,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after buying an additional 105,631 shares during the last quarter. PFG Advisors raised its holdings in shares of QUALCOMM by 8.0% in the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after purchasing an additional 321 shares during the period. Teza Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in QUALCOMM by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after buying an additional 6,017 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in QUALCOMM by 12.3% during the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock worth $203,904,000 after buying an additional 145,509 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 over the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM traded up $1.05 during mid-day trading on Monday, hitting $158.90. 4,770,266 shares of the company's stock were exchanged, compared to its average volume of 8,752,932. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The stock's 50-day simple moving average is $155.80 and its 200-day simple moving average is $153.38. The firm has a market cap of $171.45 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $2.33 earnings per share. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Analyst Ratings Changes

A number of equities analysts have weighed in on QCOM shares. Mizuho lowered their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the stock an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group boosted their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average price target of $181.10.

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.