Scotia Capital Inc. Buys 2,121 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Scotia Capital Inc. increased its stake in QUALCOMM by 1.6%, owning a total of 131,368 shares valued at approximately $20.18 million as of the latest filing.
• Insider trading at QUALCOMM has been notable, with a major shareholder selling 412,500 shares for $6.6 million and insiders collectively selling 420,766 shares valued at nearly $7.86 million in the last quarter.
• Analysts have mixed ratings on QUALCOMM, with target price adjustments and a consensus rating of "Hold," while recent earnings showed a 10.4% revenue increase year-over-year.

Scotia Capital Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,368 shares of the wireless technology company's stock after buying an additional 2,121 shares during the quarter. Scotia Capital Inc.'s holdings in QUALCOMM were worth $20,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QCOM. Eagle Strategies LLC raised its stake in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. grew its holdings in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in QUALCOMM by 2.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after buying an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. grew its holdings in QUALCOMM by 5.1% during the 1st quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after buying an additional 69 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after buying an additional 70 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's 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 completion of the sale, the insider 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 disclosure for this sale can be found here. Insiders sold 420,766 shares of company stock valued at $7,858,738 over the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QCOM shares. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday. Piper Sandler dropped their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $181.10.

QUALCOMM Stock Up 1.0%

Shares of QCOM opened at $148.19 on Monday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $159.90 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.18 and a beta of 1.23. The stock's 50-day moving average price is $155.11 and its 200-day moving average price is $154.81.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 EPS. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio is presently 34.33%.

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.

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