Beutel Goodman & Co Ltd. Boosts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beutel Goodman & Co Ltd. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,441,570 shares of the wireless technology company’s stock after purchasing an additional 381,380 shares during the period. QUALCOMM accounts for 2.0% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 16th largest position. Beutel Goodman & Co Ltd.’s holdings in QUALCOMM were worth $375,074,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM in the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Performance

Shares of QCOM opened at $152.72 on Friday. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The business has a fifty day moving average of $164.16 and a 200 day moving average of $163.82. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by company insiders.

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.