iA Global Asset Management Inc. Has $29.84 Million Position in QUALCOMM Incorporated $QCOM

iA Global Asset Management Inc. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,363 shares of the wireless technology company’s stock after selling 21,332 shares during the period. iA Global Asset Management Inc.’s holdings in QUALCOMM were worth $29,839,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC boosted its stake in QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 70.0% in 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 purchasing an additional 70 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $32,000. Finally, Atticus Wealth Management LLC boosted its stake in shares of QUALCOMM by 21,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on QCOM shares. Arete upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Tuesday, August 26th. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Weiss Ratings upgraded shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Susquehanna boosted their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Finally, UBS Group set a $165.00 target price on shares of QUALCOMM in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.95.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Patricia Y. Grech sold 273 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $161.42, for a total transaction of $44,067.66. Following the completion of the sale, the chief accounting officer directly owned 404 shares of the company’s stock, valued at approximately $65,213.68. The trade was a 40.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the sale, the chief accounting officer directly owned 1,106 shares of the company’s stock, valued at $171,230.92. This represents a 41.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 166,502 shares of company stock worth $27,472,615 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.1%

Shares of NASDAQ QCOM opened at $180.90 on Friday. The firm’s 50-day simple moving average is $165.85 and its 200 day simple moving average is $156.67. The company has a market cap of $195.19 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.59 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 Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95.

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

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s dividend payout ratio is 34.33%.

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.