Power Corp of Canada Invests $211,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Power Corp of Canada acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) during the third quarter, HoldingsChannel reports. The firm acquired 1,869 shares of the wireless technology company’s stock, valued at approximately $211,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 108,549,542 shares of the wireless technology company’s stock worth $12,263,927,000 after purchasing an additional 1,608,117 shares during the period. BlackRock Inc. grew its stake in shares of QUALCOMM by 0.6% in the third quarter. BlackRock Inc. now owns 82,719,169 shares of the wireless technology company’s stock valued at $9,345,610,000 after buying an additional 492,464 shares in the last quarter. State Street Corp grew its stake in shares of QUALCOMM by 1.1% in the third quarter. State Street Corp now owns 47,568,746 shares of the wireless technology company’s stock valued at $5,374,317,000 after buying an additional 524,556 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 4.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 18,844,528 shares of the wireless technology company’s stock valued at $2,129,056,000 after buying an additional 765,392 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 12,856,118 shares of the wireless technology company’s stock valued at $1,452,484,000 after buying an additional 215,229 shares in the last quarter. 70.87% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.9 %

Shares of NASDAQ QCOM opened at $115.49 on Thursday. The company has a market cap of $128.77 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $101.93 and a 12-month high of $161.30. The company has a current ratio of 2.09, a quick ratio of 1.41 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $125.10 and its 200 day simple moving average is $121.26.

QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.02. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.57 billion. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The business’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the business posted $2.96 EPS. Equities research analysts expect that QUALCOMM Incorporated will post 8.21 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM’s payout ratio is currently 28.90%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. Evercore ISI set a $120.00 target price on QUALCOMM in a research note on Wednesday, November 23rd. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Tuesday, December 20th. Wells Fargo & Company increased their target price on QUALCOMM from $105.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. Cowen lowered their price objective on QUALCOMM from $165.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, StockNews.com assumed coverage on QUALCOMM in a research note on Thursday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.41.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of QUALCOMM stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the sale, the insider now owns 23,637 shares of the company’s stock, valued at approximately $3,107,792.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total transaction of $310,125.00. Following the sale, the director now owns 4,605 shares of the company’s stock, valued at approximately $571,250.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 27,626 shares of QUALCOMM stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $131.48, for a total value of $3,632,266.48. Following the sale, the insider now directly owns 23,637 shares in the company, valued at approximately $3,107,792.76. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

About QUALCOMM

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.