Kornitzer Capital Management Inc. KS Has $61.55 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 361,933 shares of the wireless technology company’s stock after selling 440 shares during the quarter. QUALCOMM accounts for 1.1% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 14th largest holding. Kornitzer Capital Management Inc. KS’s holdings in QUALCOMM were worth $61,547,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of QCOM. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM during the first quarter worth approximately $1,171,516,000. Massachusetts Financial Services Co. MA grew its position in QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC increased its holdings in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp raised its position in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S acquired a new position in QUALCOMM in the third quarter worth $229,078,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.6 %

Shares of QCOM stock traded up $2.72 on Thursday, hitting $175.71. The stock had a trading volume of 5,128,265 shares, compared to its average volume of 8,946,846. The firm has a market cap of $195.74 billion, a P/E ratio of 23.66, a PEG ratio of 1.66 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $119.15 and a twelve month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $168.55 and a two-hundred day moving average price of $182.14.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, analysts forecast that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.94%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock worth $2,709,186 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QCOM shares. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Susquehanna decreased their price target on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Citigroup dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.88.

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.