Intact Investment Management Inc. Sells 16,630 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Intact Investment Management Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 37.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,300 shares of the wireless technology company’s stock after selling 16,630 shares during the period. Intact Investment Management Inc.’s holdings in QUALCOMM were worth $4,642,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the third quarter valued at about $26,000. HWG Holdings LP bought a new position in QUALCOMM in the second quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC grew its position 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. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the third quarter valued at about $36,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QCOM. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Trading Down 0.1 %

Shares of QUALCOMM stock opened at $165.18 on Tuesday. QUALCOMM Incorporated has a 1 year low of $118.38 and a 1 year high of $230.63. The firm has a market cap of $184.01 billion, a PE ratio of 21.40, a P/E/G ratio of 1.66 and a beta of 1.28. The stock has a fifty day moving average price of $168.69 and a 200-day moving average price of $182.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM Dividend Announcement

The company 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. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 44.04%.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,146 shares of company stock valued at $2,709,186. 0.08% of the stock is owned by insiders.

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.