EdgePoint Investment Group Inc. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

EdgePoint Investment Group Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 49.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,082,396 shares of the wireless technology company’s stock after buying an additional 1,021,378 shares during the quarter. QUALCOMM makes up about 3.7% of EdgePoint Investment Group Inc.’s holdings, making the stock its 13th biggest holding. EdgePoint Investment Group Inc. owned about 0.28% of QUALCOMM worth $473,518,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, CoreFirst Bank & Trust bought a new stake in QUALCOMM in the fourth quarter worth $33,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.5 %

Shares of QCOM opened at $145.03 on Friday. 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 $159.24 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.01 and a beta of 1.29. The company has a 50-day moving average of $146.57 and a 200 day moving average of $157.74. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred 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 $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,599 shares of company stock worth $5,733,290. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on QCOM shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $192.08.

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.