Gotham Asset Management LLC Sells 33,677 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Gotham Asset Management LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,736 shares of the wireless technology company’s stock after selling 33,677 shares during the quarter. QUALCOMM makes up about 0.3% of Gotham Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Gotham Asset Management LLC’s holdings in QUALCOMM were worth $35,292,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Eagle Strategies LLC raised its stake in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after buying an additional 59 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after acquiring an additional 64 shares during the period. Finally, CFS Investment Advisory Services LLC increased its holdings in shares of QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after acquiring an additional 65 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,599 shares of company stock valued at $5,733,290. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on QCOM shares. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average price target of $192.08.

QUALCOMM Trading Up 0.1 %

Shares of QCOM opened at $145.30 on Friday. The stock’s fifty day simple moving average is $146.38 and its 200 day simple moving average is $157.55. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $159.54 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating 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 business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the company posted $2.44 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

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

About QUALCOMM

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.