Northwest & Ethical Investments L.P. Acquires 70,926 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Northwest & Ethical Investments L.P. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 304.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,201 shares of the wireless technology company’s stock after buying an additional 70,926 shares during the period. Northwest & Ethical Investments L.P.’s holdings in QUALCOMM were worth $16,019,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the third quarter valued at $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the second quarter worth about $32,000. Planning Capital Management Corp lifted its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Finally, Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QCOM. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.15.

QUALCOMM Stock Performance

QUALCOMM stock traded down $0.53 during mid-day trading on Thursday, reaching $156.40. 6,333,417 shares of the company’s stock were exchanged, compared to its average volume of 9,011,226. The firm has a market capitalization of $173.76 billion, a PE ratio of 17.40, a P/E/G ratio of 2.67 and a beta of 1.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $167.20 and its 200 day simple moving average is $181.09. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,450 shares of company stock worth $2,911,306. Insiders own 0.08% of the company’s stock.

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.