OMERS ADMINISTRATION Corp Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

OMERS ADMINISTRATION Corp reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,297 shares of the wireless technology company's stock after selling 1,869 shares during the period. OMERS ADMINISTRATION Corp's holdings in QUALCOMM were worth $10,492,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth approximately $527,053,000. Northern Trust Corp grew its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of QUALCOMM by 525.5% in the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock worth $217,141,000 after acquiring an additional 1,187,531 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Susquehanna cut their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $192.08.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $152.12 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a fifty day moving average price of $146.26 and a 200 day moving average price of $157.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a market cap of $167.03 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.01 and a beta of 1.29.

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

QUALCOMM Increases Dividend

The firm 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 dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.34%. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This represents a 61.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares in the company, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,312 shares of company stock valued at $2,457,779 over the last 90 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.

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