Caisse DE Depot ET Placement DU Quebec Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 78.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,584,292 shares of the wireless technology company’s stock after acquiring an additional 696,872 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in QUALCOMM were worth $269,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. Wedge Capital Management L L P NC grew its holdings in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of QUALCOMM by 39.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock worth $30,068,000 after purchasing an additional 50,438 shares during the period. Icon Wealth Advisors LLC grew its stake in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after purchasing an additional 18,315 shares during the last quarter. Aljian Capital Management LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $1,820,000. Finally, Czech National Bank raised its position in QUALCOMM by 6.5% during the 3rd quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock valued at $38,590,000 after purchasing an additional 13,888 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $158.53 on Friday. QUALCOMM Incorporated has a 12 month low of $127.49 and a 12 month high of $230.63. The business’s fifty day simple moving average is $166.64 and its two-hundred day simple moving average is $180.74. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market cap of $176.13 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 2.63 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.14%. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on QCOM shares. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.15.

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.