Adage Capital Partners GP L.L.C. Has $159.57 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Adage Capital Partners GP L.L.C. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,038,721 shares of the wireless technology company's stock after acquiring an additional 159,200 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of QUALCOMM worth $159,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the company'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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total value of $91,439.28. Following the completion of the sale, the chief financial officer now directly owns 56,445 shares of the company's stock, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent analyst reports. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Finally, Benchmark restated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $201.21.

QUALCOMM Trading Up 4.8 %

Shares of NASDAQ:QCOM opened at $147.21 on Friday. The firm has a fifty day moving average of $150.61 and a two-hundred day moving average of $159.63. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The firm has a market capitalization of $162.81 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 - Get Free Report) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared 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 an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

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.