BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 19,021 Shares of QUALCOMM, Inc. (QCOM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 556,940 shares of the wireless technology company’s stock after selling 19,021 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in QUALCOMM were worth $28,872,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QCOM. FCA Corp TX boosted its holdings in QUALCOMM by 1.0% during the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock worth $269,000 after purchasing an additional 49 shares during the last quarter. Meridian Investment Counsel Inc. lifted its stake in QUALCOMM by 0.3% in the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after acquiring an additional 50 shares during the last quarter. Valueworks LLC lifted its stake in QUALCOMM by 0.3% in the second quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock valued at $827,000 after acquiring an additional 50 shares during the last quarter. Birch Hill Investment Advisors LLC lifted its stake in QUALCOMM by 1.4% in the second quarter. Birch Hill Investment Advisors LLC now owns 3,651 shares of the wireless technology company’s stock valued at $202,000 after acquiring an additional 51 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its stake in QUALCOMM by 0.5% in the second quarter. Connecticut Wealth Management LLC now owns 11,933 shares of the wireless technology company’s stock valued at $664,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 75.68% of the company’s stock.

QUALCOMM, Inc. (NASDAQ QCOM) opened at $66.59 on Thursday. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. QUALCOMM, Inc. has a fifty-two week low of $48.92 and a fifty-two week high of $69.28. The stock has a market cap of $97,259.84, a P/E ratio of -23.45, a price-to-earnings-growth ratio of 2.04 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 EPS. sell-side analysts forecast that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.42%. QUALCOMM’s dividend payout ratio is currently -80.28%.

QCOM has been the topic of several research analyst reports. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Canaccord Genuity increased their price objective on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. UBS Group lowered their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price target on the stock in a research report on Monday, November 13th. Finally, ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $68.25.

In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders sold a total of 53,346 shares of company stock valued at $3,499,504 in the last quarter. 0.17% of the stock is currently owned by company insiders.

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About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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