QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,580 shares of the wireless technology company’s stock after selling 332 shares during the period. V Square Quantitative Management LLC’s holdings in QUALCOMM were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC boosted its stake in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in QUALCOMM during the fourth quarter worth $35,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $222.22 on Tuesday. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $222.67. The company has a fifty day simple moving average of $188.58 and a two-hundred day simple moving average of $164.88. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a market cap of $248.00 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.53%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Insiders Place Their Bets

In other news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on QCOM. Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Mizuho boosted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Argus upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.74.

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.