Aquatic Capital Management LLC Has $7.21 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Aquatic Capital Management LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 54.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,902 shares of the wireless technology company's stock after selling 55,698 shares during the period. Aquatic Capital Management LLC's holdings in QUALCOMM were worth $7,205,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi raised its holdings in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new position in QUALCOMM in the 4th quarter valued at about $527,053,000. Capital Research Global Investors raised its holdings in QUALCOMM by 525.5% in the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after acquiring an additional 1,187,531 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of QUALCOMM by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after purchasing an additional 709,644 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.6 %

Shares of QCOM stock traded down $0.94 on Monday, hitting $147.62. The company had a trading volume of 5,732,406 shares, compared to its average volume of 8,885,013. The firm has a market cap of $163.27 billion, a P/E ratio of 15.77, a P/E/G ratio of 2.01 and a beta of 1.28. The stock's 50-day moving average is $149.56 and its two-hundred day moving average is $159.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.41%. QUALCOMM's dividend payout ratio is presently 38.03%.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,666 shares of company stock valued at $5,047,052. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QCOM. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Citigroup lowered their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $201.21.

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.