CIBC World Markets Inc. Decreases Position in QUALCOMM, Inc. (QCOM)

CIBC World Markets Inc. cut its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 35.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,768 shares of the wireless technology company’s stock after selling 76,683 shares during the quarter. CIBC World Markets Inc.’s holdings in QUALCOMM were worth $9,995,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in QUALCOMM by 1,897,041.6% during the third quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock valued at $1,500,428,000 after purchasing an additional 20,829,517 shares during the last quarter. Millennium Management LLC boosted its position in QUALCOMM by 121.1% during the second quarter. Millennium Management LLC now owns 3,254,918 shares of the wireless technology company’s stock valued at $182,666,000 after purchasing an additional 1,782,585 shares during the last quarter. Putnam Investments LLC boosted its position in QUALCOMM by 128.4% during the second quarter. Putnam Investments LLC now owns 2,506,811 shares of the wireless technology company’s stock valued at $140,682,000 after purchasing an additional 1,409,034 shares during the last quarter. Waddell & Reed Financial Inc. boosted its position in QUALCOMM by 18.8% during the second quarter. Waddell & Reed Financial Inc. now owns 5,029,933 shares of the wireless technology company’s stock valued at $282,280,000 after purchasing an additional 794,924 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in QUALCOMM by 133.5% during the third quarter. Jennison Associates LLC now owns 1,388,752 shares of the wireless technology company’s stock valued at $100,032,000 after purchasing an additional 794,075 shares during the last quarter. Institutional investors and hedge funds own 89.45% of the company’s stock.

Several research analysts recently commented on QCOM shares. Canaccord Genuity increased their price target on QUALCOMM from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Cowen raised QUALCOMM from a “market perform” rating to an “outperform” rating and increased their price target for the company from $64.00 to $80.00 in a research report on Monday, August 6th. Nomura increased their price target on QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 4th. Royal Bank of Canada increased their price target on QUALCOMM to $77.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. Finally, Rosenblatt Securities raised QUALCOMM from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $70.00 in a research report on Monday, August 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $70.44.

QCOM opened at $55.25 on Friday. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $76.50. The company has a market capitalization of $67.00 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.36 and a beta of 1.69. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 16.56.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.20. QUALCOMM had a positive return on equity of 26.21% and a negative net margin of 21.40%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that QUALCOMM, Inc. will post 3.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.49%. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.

In other news, EVP Alexander H. Rogers sold 853 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $63.50, for a total transaction of $54,165.50. Following the transaction, the executive vice president now owns 4,344 shares in the company, valued at $275,844. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of the stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total value of $6,098,286.25. Following the transaction, the president now owns 58,045 shares in the company, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,638 shares of company stock worth $6,302,079. 0.17% of the stock is owned by corporate insiders.

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QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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