V Square Quantitative Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) 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 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.
Check Out Our Latest Stock Report on QCOM
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.
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