QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 64.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 275,157 shares of the wireless technology company’s stock after selling 507,165 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in QUALCOMM were worth $42,270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,312 shares of company stock valued at $1,948,379. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on QCOM shares. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Evercore ISI reduced their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $192.08.

QUALCOMM Trading Up 0.1%

Shares of QUALCOMM stock opened at $153.82 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a market cap of $168.89 billion, a PE ratio of 16.43, a P/E/G ratio of 2.01 and a beta of 1.29. The business’s fifty day moving average is $145.99 and its two-hundred day moving average is $156.70. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 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.