Fiera Capital Corp Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Fiera Capital Corp reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 56.1% during the second quarter, HoldingsChannel reports. The firm owned 7,906 shares of the wireless technology company’s stock after selling 10,088 shares during the period. Fiera Capital Corp’s holdings in QUALCOMM were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of QUALCOMM by 97,298.7% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 654,605,268 shares of the wireless technology company’s stock valued at $77,924,211,000 after purchasing an additional 653,933,180 shares in the last quarter. State Street Corp lifted its holdings in shares of QUALCOMM by 2.5% during the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after purchasing an additional 1,183,406 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Morgan Stanley lifted its holdings in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of QUALCOMM by 2.1% during the first quarter. Geode Capital Management LLC now owns 21,033,199 shares of the wireless technology company’s stock valued at $2,677,836,000 after purchasing an additional 433,886 shares in the last quarter. 71.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. StockNews.com raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, October 12th. Morgan Stanley lowered their target price on QUALCOMM from $129.00 to $119.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Wells Fargo & Company increased their target price on QUALCOMM from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, September 12th. KeyCorp reissued an “overweight” rating and issued a $145.00 target price on shares of QUALCOMM in a report on Thursday, September 14th. Finally, UBS Group increased their target price on QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.85.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $128.92 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.67 and a debt-to-equity ratio of 0.67. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $139.94. The stock has a 50-day moving average price of $112.38 and a 200 day moving average price of $114.53. The stock has a market capitalization of $143.49 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.38 and a beta of 1.21.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, November 29th. QUALCOMM’s dividend payout ratio is currently 49.84%.

Insider Buying and Selling

In related news, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $124.00, for a total transaction of $124,000.00. Following the completion of the sale, the insider now owns 3,745 shares in the company, valued at $464,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 6,001 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $110.40, for a total transaction of $662,510.40. Following the completion of the transaction, the insider now owns 25,229 shares in the company, valued at approximately $2,785,281.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $124.00, for a total value of $124,000.00. Following the transaction, the insider now owns 3,745 shares of the company’s stock, valued at approximately $464,380. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,963 shares of company stock worth $5,377,298. 0.07% of the stock is owned by corporate 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.