27,387 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Empire Life Investments Inc.

Empire Life Investments Inc. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, Holdings Channel.com reports. The fund acquired 27,387 shares of the wireless technology company’s stock, valued at approximately $4,657,000.

Other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC boosted its position 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 valued at $60,264,000 after buying an additional 51,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in QUALCOMM by 39.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,817 shares of the wireless technology company’s stock valued at $30,068,000 after purchasing an additional 50,438 shares during the last quarter. Czech National Bank grew its stake 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 in the last quarter. Legal & General Group Plc raised its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $1,539,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QCOM opened at $165.27 on Friday. The firm has a market capitalization of $184.11 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28. The stock’s fifty day moving average is $168.77 and its 200-day moving average is $181.99. QUALCOMM Incorporated has a one year low of $114.45 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,245 shares of company stock valued at $2,395,407. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QCOM. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Rosenblatt Securities lifted their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Finally, HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM 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.