BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $32.77 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,321 shares of the wireless technology company's stock after purchasing an additional 27,113 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in QUALCOMM were worth $32,770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in shares of QUALCOMM during the 4th quarter valued at $207,000. LaFleur & Godfrey LLC increased its position in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after purchasing an additional 300 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in QUALCOMM by 3.0% in the fourth quarter. Atomi Financial Group Inc. now owns 4,839 shares of the wireless technology company's stock worth $743,000 after purchasing an additional 143 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of QUALCOMM by 7.0% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 463,018 shares of the wireless technology company's stock worth $71,129,000 after purchasing an additional 30,253 shares during the last quarter. Finally, Perfromance Wealth Partners LLC grew its stake in QUALCOMM by 3.2% in the 4th quarter. Perfromance Wealth Partners LLC now owns 5,015 shares of the wireless technology company's stock worth $770,000 after acquiring an additional 155 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock valued at $1,818,305 in the last quarter. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 2.7%

Shares of QUALCOMM stock traded up $3.86 during trading hours on Tuesday, reaching $149.24. 2,554,557 shares of the company's stock were exchanged, compared to its average volume of 8,824,842. The company has a fifty day moving average of $145.20 and a 200-day moving average of $155.99. 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 Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The firm has a market capitalization of $163.86 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $192.08.

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.